AutoTradeCenter.com Inc. Announces Investment Banking Agreement With First Security Van Kasper
SCOTTSDALE, Ariz., April 28 /PRNewswire/ -- AutoTradeCenter.com Inc. (OTC Bulletin Board: ANWK - news), a provider of Internet-based wholesale auto e-commerce solutions, announced today that it has retained First Security Van Kasper to act as the Company's financial agent and advisor. Under the terms of an investment banking agreement, First Security Van Kasper will assist the Company to structure and negotiate its future financing activities.
First Security Van Kasper is a San Francisco-based investment banking and brokerage firm that raised $416 million through public offerings of equity and debt in 1998, with an average transaction size of $37 million. Since 1991, First Security Van Kasper has raised over $1 billion for its clients in public markets.
''AutoTradeCenter.com is pleased to establish an investment banking relationship with such a capable firm as First Security Van Kasper,'' stated Roger Butterwick, the Company's CFO. ''Their involvement will greatly heighten our market visibility and support our efforts to obtain the capital necessary to finance our aggressive growth plan.''
First Security Van Kasper, founded in 1978, is an investment banking, private client and institutional brokerage firm with offices in San Francisco, Los Angeles, San Jose, Fresno, Walnut Creek, Sacramento, San Diego and Newport Beach, California, Salt Lake City, Utah and Phoenix, Arizona. The company provides investment research and is ranked among the top West Coast firms in terms of number of transactions and total dollars raised in public offerings of common stock, convertible securities and fixed-income instruments.
Through its investment management subsidiary, the company manages more than $500 million for corporations, retirement plans, trusts, fiduciaries, financial institutions and individuals. First Security Van Kasper also places securities privately, advises clients on mergers and acquisitions.
AutoTradeCenter.com is a leading Internet-based ''business-to-business'' automotive wholesale and re-marketing company. On its Web site, www.autotradecenter.com, the Company markets its service to its national dealer base, to automotive lease and rental companies, and to banks and financial institutions across the U.S. who use the site's many features for more efficient buying, selling and trading. The site also is designed to provide large dealership groups a virtual private network internal inventory service through controlled security access.
For more information on AutoTradeCenter.com, please visit www.autotradecenter.com or the company's home site www.anwk.com.
Statements regarding financial matters in this press release other than historical facts are ''forward-looking statements'' within the meaning of section 27 A of the Securities Act of 1933, Section 21 E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
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