IRVINE, CA, Dec. 19, 2017 (GLOBE NEWSWIRE) -- Signature Devices, Inc. (OTC PINK: SDVI) and Innovo Technology, a leading software and hardware development company, is announcing a strategic partnership with New York City based private investment fund, Tri-Bridge Ventures, LLC. Signature Devices announced today that it entered into a Securities Purchase Agreement with Tri-Bridge Ventures in which TBV may purchase common stock equal to a value of up to Five Million Dollars ($5,000,000) when SDVI has qualified the necessary number of shares under Regulation A+ through an offering statement (Form 1-A). SDVI intends on filing the offering statement within the next thirty days.
Additionally, TBV has already invested capital that will be used to expand production and inventory, secure new facilities to continue growth, and file the Reg A+ with the SEC." These agreements establish a direct relationship with an institutional investor and long-term partner to fund the growth of the company. “The Regulation A+ is available, at our discretion providing us with both immediate and the precise amount of capital potentially needed in the future. This enables substantially less dilution when compared to convertible transactions or direct loan agreements." Said Inas Azzam, CEO and President of Signature Devices and Innovo Technology.
Regulation A+, as mandated by the JOBS Act and introduced on March 25, 2015, gives non-SEC reporting companies the ability to raise up to $50,000,000 in a 12-month period. Through the Reg A+, Signature Devices will have a structure in place throughout 2018 which will provide the capital necessary to execute on their business plan, market their existing products, continue to innovate in the Internet of Things space, and deliver shareholder value.
You can also follow the company on Twitter for small updates and announcements: https://twitter.com/SignatureDevice
About Tri-Bridge Ventures, LLC
Tri-Bridge Ventures, LLC is a New York based Institutional Investor that focuses on transactions with publicly traded companies. The firm sources, structures and executes on investments in publicly traded companies with market capitalization primarily under $250 million. The Tri-Bridge Ventures team has the experience and understanding of the public markets to identify investment opportunities as well as the ability to structure bespoke equity and debt transactions.
About Innovo Technology, Inc.
Based in Irvine, California, Innovo Technology combines the best of the technologies underpinning the popular Morpheus media server, Tazerwear's AI Software, Truck IT's beacon platform with Knoton's hardware, infrastructure and software. The result is a company that blends custom software and powerful hardware IoT-interconnected devices.