Evercel Announces Sale of Investment in SharpSpring
18 June 2019 - 7:03AM
Evercel, Inc. (“Evercel”) (OTC: EVRC), today
announced the sale of its entire investment in SharpSpring, Inc.
(NASDAQ: SHSP).
Entities affiliated with Evercel that held its shares of SHSP
stock sold the shares in a secondary offering that closed today.
All net proceeds from the offering went to the selling
shareholders. The offering was made pursuant to a
registration statement (File No. 333-231758) filed by SharpSpring
with the Securities and Exchange Commission and declared effective
on June 3, 2019.
Evercel will receive $19.3m pre-tax from the investment, which
is after underwriting fees and profit sharing paid to Corona Park
Investment Partners. Evercel, through affiliated entities,
invested approximately $2m in SharpSpring public shares in November
2017 and $8m in a SharpSpring convertible note in March 2018 for a
combined investment of approximately $10m.
Canaccord Genuity LLC and Roth Capital Partners acted as joint
book-running managers of the offering.
About Evercel: New York City-based Evercel is a publicly
traded holding company that oversees and manages subsidiary
companies. Due to Evercel’s limited number of shareholders and its
decision at present not to register with the SEC, Evercel is not
obligated to publicly report business or financial information.
From time-to-time, Evercel chooses to voluntarily report
information. Evercel may change its reporting practices at any
time, in its discretion and without notice.
Please Note: Statements in this announcement that are not
historical facts are “forward-looking statements,” which may
involve material risks and uncertainties. Evercel cautions
readers not to place undue reliance on forward-looking statements.
The information in this announcement does not purport to be a
complete disclosure of the matters addressed, and you should not
rely on it as being complete.
Contact
info@evercel.com
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