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MINNEAPOLIS, Jan. 23, 2017 -- Cachet Financial Services Inc., (OTCQB:CAFN), a leading mobile FinTech provider of cloud-based remote deposit capture (RDC) and mobile prepaid card solutions announced today that on January 20, 2017 it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed public offering of its common stock. The Company expects to use the net proceeds of the offering to fund sales and marketing, working capital, repay outstanding debt and for other general corporate purposes.
Lake Street Capital Markets, LLC and National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NHLD) are acting as joint book running managers for the offering.
In conjunction with this offering, the Company has applied to list its common stock on the Nasdaq Capital Market under the symbol “CAFN.”
A registration statement relating to the proposed offering of common stock has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained by request to the offices of Lake Street Capital Markets, LLC, Attn: Equity Syndicate Department, 225 South 6th St, Ste 4750, Minneapolis, MN 55402, Telephone: (888) 330-4648, Email: [email protected]; or the offices of National Securities Corporation, Attn: Kim Addarich, Senior Vice President, 410 Park Avenue, 14th Floor, New York, NY 10022, Email: [email protected]; or the on the SEC's website at http://www.sec.gov.
About Cachet Financial Solutions
Cachet Financial Solutions is a leading cloud-based, SaaS technology provider serving the financial services industry with mobile money and remote deposit capture solutions for PC, Mac and mobile. Founded in early 2010, Cachet has grown into a technology leader and trusted partner of some of the largest and most respected financial organizations.
Forward-Looking Statements
This press release contains certain statements that would be deemed "forward-looking statements" under Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1933. Words such as "may," "likely," "anticipate," "expect" and "believes" indicate forward-looking statements.
These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements.
Forward-looking statements reflect our current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. We discuss many of these risks in greater detail in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015, filed with the Securities and Exchange Commission on April 14, 2016, under the heading "Risk Factors" and in the other reports we file with the Commission. You are cautioned not to place undue reliance on these forward-looking statements. Also, forward-looking statements represent our estimates and assumptions only as of the date of this press release. Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.
Company Contact: Bryan Meier, EVP & CFO Cachet Financial Solutions, Inc. Tel 952.698.5214 [email protected] Investor Relations for Cachet: Matt Glover or Najim Mostamand Liolios Group, Inc. 949-574-3860 [email protected]
