Xcelerate, Inc. announced it has signed two investment banking agreements with a leading New York-based investment banking firm to assist in sourcing capital. (The investment banking firm was founded in the late 1980’s, is one of the oldest in the United States, a full-service broker-dealer employing over 300 people. The firm manages funds with over $2.8 Billion of retail accounts, nearly 100 registered representatives and 50 investment advisors in ten offices.)
Under this agreement, the Company has retained the investment banking firm as its exclusive placement agent and financial advisor in connection with acquisition financing. The Company must meet various terms and conditions which it believes are reasonable and attainable.
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The Company’s chairman and chief executive officer, Michael O’Shea, said, “We are exceedingly pleased to establish this relationship with such a prestigious firm, which validates our business plan. We expect the assistance of this well-established investment banker will accelerate our growth. We have launched an aggressive acquisition program and have begun due diligence on several acquisition targets. Our management believes we can satisfy the conditions in our investment banking agreement.”
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Xcelerate has assembled an internationally recognized team of translational clinicians and engineers to identify and acquire engineering advancements and intellectual property that does not have immediately obvious applications to medical technology and clinical care. Xcelerate acquires innovation at the engineering / patent level, marries it with appropriate early-stage operational med tech companies and applies it in a controlled clinical care setting which fosters engineering/clinical/business advancements under one umbrella.
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