KING OF PRUSSIA, Pa., April 18, 2017 (GLOBE NEWSWIRE) -- CardConnect Corp. (NASDAQ:CCN) (the “Company”) today announced the appointment of Amanda Abrams as General Counsel and as a member of the Company’s senior management team.
“We are very pleased to welcome Amanda as the newest member of our leadership team,” said Jeff Shanahan, President and Chief Executive Officer of CardConnect. “As our primary outside counsel contact over the past year, Amanda already has invaluable knowledge and experience in all aspects of CardConnect operations and strategy. During the time we have worked together, she has also demonstrated the critical thinking and insightful perspectives that have provided important input in many of our strategic decisions. Amanda is a fantastic addition to our leadership team and will be instrumental in our ability to execute upon on our growth strategy.”
Ms. Abrams joins CardConnect from Ledgewood PC, where she primarily focused on corporate and securities law matters, including public and private debt and equity offerings, mergers and acquisitions and general representation of public and private companies. Amanda has advised clients in various fields, including CardConnect, on a wide variety of issues, including public and private offerings, restructurings, mergers and acquisitions, periodic reporting, corporate governance and general securities law compliance. Prior to Ledgewood, Amanda practiced at Morgan, Lewis & Bockius LLP and served as senior counsel at Franklin Square Capital Partners. Amanda earned her J.D. From Harvard Law School and received her B.S., with high honors, in Finance from The Pennsylvania State University Schreyer Honors College. Amanda is admitted to practice in the Commonwealth of Pennsylvania.
“Working with CardConnect over the past year has been a truly exciting experience and one during which I gained great admiration for the significant progress Jeff and the entire management team have achieved,” said Ms. Abrams. “This is a great opportunity to join a rapidly expanding business in an extremely dynamic industry, where I can not only leverage my experience, but make more valuable contributions as a member of an accomplished team with strong growth aspirations.”
In connection with her hiring, Ms. Abrams was granted an inducement stock option to purchase 200,000 shares of the Company’s common stock at an exercise price equal to the closing price of the Company’s common stock on April 17, 2017, the date of grant. The option has a ten year term and vests in four equal installments over a period of four years, with 25% vesting on the first anniversary of the grant date. The option was granted outside of the Company’s Amended and Restated 2016 Omnibus Equity Compensation Plan, but will be subject to terms and conditions generally consistent with those in the plan. The option grant was granted as an inducement material to Ms. Abrams entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
About CardConnect
CardConnect (NASDAQ:CCN) is a leading provider of payment processing and technology solutions, helping more than 67,000 organizations – from independent coffee shops to iconic global brands – accept billions of dollars in card transactions each year. Since its inception in 2006, CardConnect has developed advanced payment solutions backed by patented, PCI-validated point-to-point encryption (P2PE) and tokenization. The company’s small-to-midsize business offering, CardPointe, is a comprehensive platform that includes a powerful reporting and transaction management portal that extends to a native mobile app. For enterprise-level organizations, CardSecure integrates omni-channel payment acceptance into several ERP systems – such as Oracle, SAP, JD Edwards and Infor M3 – in a way that minimizes PCI compliance requirements and lowers transaction costs. Additional information about CardConnect is available at www.cardconnect.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on management’s current expectations and beliefs, as well as a number of assumptions concerning future events.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements. Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in the Company’s most recent annual report on Form 10-K and subsequently filed current reports on Form 8-K, which are available, free of charge, at the SEC’s website at www.sec.gov. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.