15
August
Emtec, Inc Raises $10 Million in Mezzanine Financing
Springfield, NJ – Emtec, Inc. (OTCQB: ETEC) (“Emtec” or the “Company”), a systems integrator, today announced that a new investment partner, NewSpring Mezzanine Capital, has invested $10 million of mezzanine debt financing in Emtec. NewSpring is a leading provider of capital to growth companies headquartered in the Mid-Atlantic Region. The proceeds are being used to repay senior debt, fund the Emerging acquisition (see separate press release), pay transaction expenses, and for growth.
Steve Hobman, General Partner of NewSpring Mezzanine, commented, “We are very excited to be able to become