IRVINE, Calif., Oct. 9, 2012 (GLOBE NEWSWIRE) -- AllDigital, Inc. (OTCBB:ADGL), a leading provider of premium digital broadcasting solutions to devices, today announced that it has signed an engagement agreement with Merriman Capital, Inc. to function as capital markets advisor to AllDigital. In this capacity, Merriman will advise AllDigital on various strategic matters, including potentially raising capital and engaging in merger and acquisition activities.
"We are very pleased to engage with Merriman Capital," says Paul Summers, CEO of AllDigital. "They have a strong track record as an innovative capital markets advisory group, and we anticipate that partnering with the Merriman team will result in an increase in AllDigital's overall market value."
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About Merriman Capital, Inc.
Merriman Capital, Inc. is an investment banking firm providing equity and options execution services, market making, and differentiated research for high growth companies. We also provide capital raising, advisory and M&A services. Merriman Capital, Inc. is a wholly owned subsidiary of Merriman Holdings, Inc. (OTCQX:MERR) and is the leading investment banking firm for OTCQX companies. For more information, please go to http://www.merrimanco.com/.
Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org/ and the Securities Investor Protection Corporation (SIPC).
About AllDigital, Inc.
AllDigital offers secure digital broadcasting solutions across multiple devices including mobile, desktop and digital television. Global media and entertainment, enterprise, and organizations (such as government, faith-based groups, and others) have leveraged from our connected device technology to get to market faster, more efficiently. Our enterprise grade solutions include AllDigital Broadcast (Radio, Television, and VoD solutions), AllDigital Cloud (Origin Cloud Storage and Transit), SocialMedia Pro (brand and distribute digital media content via Facebook), and Integration Services (custom app development, digital workflow design, and more).
The AllDigital Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=14716
Forward Looking Statements
This release may contain forward-looking statements as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause AllDigital's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, the risks that AllDigital will not identify suitable partners for any capital raising or acquisition transactions, that any future proposed transaction will not close and that costs (including dilution) associated with any future transactions will exceed benefits. In addition, other risks are identified in AllDigital's filings with the SEC (under the name AllDigital Holdings, Inc.). Such forward-looking statements speak only as of the date of this release. AllDigital expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in AllDigital's expectations or results or any change in events.