Little Bear Investments LLC Participates in GoAmerica, Inc. $14.5 Million Private Placement
Wednesday November 26, 2003, 12:45 pm ET
NEW YORK, November 17 — Little Bear Investments LLC (“Little Bear”) announced today that it has participated in a $14.5 million private placement commitment to purchase common stock and warrants of GoAmerica, Inc. (Nasdaq: “GOAM” ). As part of the transaction, Little Bear also participated in a $1m bridge loan to GOAM, which closed Friday December 19, 2003.
Zachary Prensky, Managing Director of Little Bear, had originally overseen a $2m round of financing for GOAM in 1998. Mr. Prensky joined GOAM’s Board of Directors upon the closing of that financing in 1998 and stayed on until 2000.
“I am pleased to participate in a financing for a company that I had originally watched grow from a small 10-person firm into a publicly-traded leading provider of wireless services”, commented Mr. Prensky. “I was on the Board of Directors at the time the Wynd acquisition was being contemplated, and I am very pleased that GOAM has decided to focus on the core market of servicing customers who are deaf or hard of hearing.”
GoAmerica, Inc.’s aim is to improve the quality of life for people who are deaf or hard of hearing by being their premier provider of innovative communication services. These technology-based services are delivered through GoAmerica’s wholly owned subsidiaries, including Wynd Communications Corporation, the leading provider of wireless telecommunications services for people with hearing loss. Wynd Communications is a winner of the California Governor’s Award for Excellence in Universal Design and Technology and has been recognized by both the Clinton and Bush Administrations for its commitment to Americans with disabilities. For more information, visit www.goamerica.net or contact GoAmerica directly at TTY 800-549-2800, voice 805-781-6000.
About Little Bear
Little Bear Investments, located in the heart of Midtown Manhattan, is a merchant bank that focuses on investing in both public and private companies. Our broad range of investment experience includes: tender offers, private placements, PIPE’s, reverse mergers and bankruptcy auctions. Little Bear also offers financial, operational and strategic advisory services. Working with companies large and small, we bring the same disciplined approach to our clients as we do to businesses in which we have deployed our own capital.
If you have any questions regarding this press release, please contact Zachary Prensky at Zach@LittleBear.us or at 212-946-2736.