Turner has been very fortunate in structuring a partnership with an established investment bank sponsor to underwrite the M&A transactions. This is being done to avoid any overly dilutive or toxic financing that many micro cap companies are faced with.
There will be a press release soon that will give details about this investment bank. Turner is very proud to be working with them due to their success rate in not only funding deals, but also their extensive history in taking previous OTC companies to a higher exchange like the NASDAQ or NYSE. The Company has openly stated that though M&A’s, it’s intention is to follow this model over the coming quarters.
In addition, as stated in the 8k filing recently regarding the shipping company, the initial deal will be done with preferred shares, thus limiting dilution. The investment bank will then underwrite any additional capital placements as the Company seeks additional acquisition or growth capital.