ISA lands $3M investment, $17.8M credit line
Jun 16, 2014 | 04:38 PM
| Rey Mashayekhi
NEW YORK Industrial Services of America Inc. (ISA) has received a $3-million investment from Recycling Capital Partners LLC (RCP), as well as a $17.8-million credit facility from Wells Fargo Bank NA.
As part of the deal, RCPan investment entity principally owned by MetalX LLC president and chief executive officer Daniel M. Rifkinwill purchase 857,143 shares of ISA common stock at $3.50 per share, with Rifkins entity also receiving a five-year warrant to purchase an additional 857,143 shares at $5 per share. RCP also is entitled to designate one member of ISAs board and has "certain right of first refusal rights with respect to additional....
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