DGAP-News: IPNav Closes on Debt Financing Facility
(firmenpresse) - IP Navigation Group, LLC
18.07.2012 19:12
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DALLAS, 2012-07-18 19:11 CEST (GLOBE NEWSWIRE) --
IPNav announced today that the company has closed and drawn down on the first
tranche of a $15 million debt financing facility with an affiliate of JGB
Management Inc. IPNav was advised on this transaction by Cowen and Company,
LLC.
Executive Chairman Erich Spangenberg said, 'This new financing gives us
additional working capital to support the major expansion we launched earlier
this year. We are now at 40 employees with 30 professionals worldwide and
seeking to expand further as the market embraces our outsourced licensing
solution.'
IPNav recently added offices in Palo Alto, Seattle and Tel Aviv to its existing
presence in Dallas, Dublin, Paris and Shanghai.
Established in 2003, IPNav is the world's leading full service patent
monetization firm helping forward-thinking corporations, universities,
organizations and individuals profit from innovation. IPNav's integrated,
end-to-end solution turns idle IP assets into revenue streams. Using its
proprietary Patent Monetization Platform, IPNav unlocks the value trapped in
our clients' IP portfolios - with timetables and objectives set by the client.
IPNav's innovative approach has generated over $600 million in licensing
revenue for its clients.
For additional information, please visit IPNav's website, www.ipnav.com.
The IP Navigation Group logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=12141
Barry Leff
IPNav
+1 214 438 0800
barry(at)ipnav.com
News Source: NASDAQ OMX
18.07.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: IP Navigation Group, LLC
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901818776
WKN:
End of Announcement DGAP News-Service
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Datum: 18.07.2012 - 19:12 Uhr
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