Home Solutions of America Closes $1 Million Private Placement
21 July 2004 - 1:33AM
PR Newswire (US)
Home Solutions of America Closes $1 Million Private Placement
DALLAS, July 20 /PRNewswire-FirstCall/ -- Home Solutions of
America, Inc. (AMEX:HOM), a niche provider of specialty residential
services, announced today that it has completed a private placement
with two institutional investors whereby such investors purchased
$1,000,000 of Home Solutions' Series B Convertible Preferred Stock,
which is convertible into our common stock at a price of $1.50 per
share. The net proceeds of such offering will be used for
acquisition financing and general working capital needs. The
preferred shares issued in this offering have not been, and will
not be, registered under the Securities Act of 1933, as amended
(the "Act"), and may not be offered for sale or sold absent
registration under the Act or an applicable exemption from the
registration requirements of the Act. Home Solutions is a niche
provider of specialty residential services including Restoration
Services and Specialty Interior Services. The Company has
operations in the California, Texas and Florida markets and is
rapidly growing its core business through organic growth as well as
through an acquisition strategy. For more information on Home
Solutions, please see our website at http://www.homcorp.com/ .
Statements included in this update that are not historical in
nature are intended to be, and are hereby identified as,
"forward-looking statements" for purposes of the safe harbor
provided by Section 21E of the Securities Exchange Act of 1934, as
amended by Public Law 104-67. Forward-looking statements may be
identified by words including "anticipate," "believe," "intends,"
"estimates," "expect," and similar expressions. The Company
cautions readers that forward-looking statements including, without
limitation, those relating to the Company's future business
prospects are subject to certain risks and uncertainties that could
cause actual results to differ materially from those indicated in
the forward-looking statements, due to factors such as those
relating to economic, governmental, technological, and other risks
and factors identified from time to time in the Company's reports
filed with the SEC. HOME SOLUTIONS OF AMERICA, INC. CONTACT: Cormac
Glynn, CEOcast, Inc. PHONE: 212-732-4300 DATASOURCE: Home Solutions
of America, Inc. CONTACT: Cormac Glynn of CEOcast, Inc.,
+1-212-732-4300, for Home Solutions of America, Inc. Web site:
http://www.homcorp.com/
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