Innovative Food Holdings (IVFH), a specialty food service distribution business announced it has completed funding to accelerate growth.
IVFH has completed a non-brokered private placement of 943,829 restricted shares at $1.30 per share, raising approximately $1.2 million from accredited investors and institutions. Please note, that the GeoTeam has participated in part of the restricted share offering.
Yorkmont Capital Partners LP leads acquisition of 3.2 million restricted shares
In addition, an investor group led by Yorkmont Capital Partners LP has acquired approximately 3.2 million restricted shares of the Company’s common stock in connection with the Company’s share block purchase option agreement with a former dissident shareholder of The Fresh Diet®.
Quote from management:
Sam Klepfish, CEO of Innovative Food Holdings noted, “Over a period of several months the Company was able to negotiate and structure a block purchase transaction, enabling the replacement of a dissident shareholder with sophisticated and value-added long-term institutional shareholders. We view this transaction as an important step to further broadening the company’s institutional shareholder base and key to building long term value for Innovative Food Holdings shareholders.”
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