Respect Your Universe, Inc. Raises Additional Capital Due to High Investor Confidence
(firmenpresse) - LAS VEGAS, NV -- (Marketwire) -- 08/10/11 -- Respect Your Universe ("RYU") (OTCBB: RYUN) is pleased to announce it has closed a $2,132,607 round of equity financing with a syndicate of accredited investors on August 5th, 2011. For the investment, RYU issued 2,132,607 shares of restricted common stock.
RYU had not planned on conducting this round of financing, but due to the overwhelming investor demand that it received in its previous offering which closed in June 2011, and the improvement of financing terms in this offering, RYU felt it was in the best interest of shareholders to take the opportunity to improve its balance sheet and have the option to deploy the additional funds in a variety of critical areas to increase its ability to leverage its business plan.
With this further investment, RYU adds to its operations budget and will continue to execute its business plan in regards to the development, marketing and distribution of its MMA inspired apparel and merchandise.
Chief Executive Officer Chris Martens stated, "We are thrilled to have such response and believe this latest round of financing is proof that our approach to business and brand model is striking a chord with investors."
Chief Financial Officer Steve Eklund said of the financing, "We really couldn't have asked for a bigger vote of confidence in light of the general economic climate. This additional financing is ahead of schedule and of course helps us extend the implementation of our business plan, but the real value here comes with the validation from our shareholders that we are on the right path."
Respect Your Universe, Inc. (OTCBB: RYUN) is a premium performance apparel and equipment company rooted in and inspired by Mixed Martial Arts. Focused on the needs of the athlete, RYU brings innovative design, development and production of premium authentic performance gear with style to mixed martial artists and athlete enthusiasts worldwide. The RYU brand is based on respect, honor and sustainability.
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect," "is expected," "anticipates" or "does not anticipate," "plans," "hopes," "estimates," "projects" or "intends," or stating that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of sales and designs of our apparel, the MMA industry and market, the apparel industry and market, the availability of capital to fund our business plan and the resulting dilution caused by the raising of capital through the sale of shares, product manufacturing and sourcing, and labor. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.
Respect Your Universe, Inc.
Investor Relations:
+1-888-455-6183 ext 102
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Datum: 10.08.2011 - 13:00 Uhr
Sprache: Deutsch
News-ID 44570
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