MetalX, ISA may build ties, Rifkin says

Jun 18, 2014 | 05:35 PM | Rey Mashayekhi

Tags  MetalX, Daniel Rifkin, Industrial Services of America, ISA, Recycling Capital Partners, RCP, Sean Garber, scrap Rey Mashayekhi

NEW YORK — MetalX LLC and Industrial Services of America Inc. (ISA) could potentially develop commercial relationships, MetalX president and chief executive officer Daniel M. Rifkin told AMM in the wake of his recent investment in ISA.

Louisville, Ky.-based ISA announced this week that it had secured a $3-million investment from Recycling Capital Partners LLC (RCP), an investment entity principally owned by Rifkin, as well as a $17.8-million credit facility from Wells Fargo Bank NA (amm.com, June 16). Under the terms of the deal, Rifkin’s entity will purchase 857,143 shares of ISA common stock at $3.50 per share with a five-year warrant to purchase an additional 857,143 shares at $5 per share.....





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