Le Lézard
Classified in: Business
Subject: FNC

HUTN Closes on JP Morgan Financing


SPRINGFIELD, Ohio, Jan. 25, 2018 /PRNewswire/ -- HUTN Group Inc., a unit of HUTN, Inc. (OTC: HUTN) closed on a $4.6 million financing by JP Morgan Chase.  HUTN Group will allocate the resources to support product development and marketing of new digital services by subsidiaries EF Hutton, Inc., Vibrant Mobility, Inc. and Megga, Inc.  Funds will be used for general corporate purposes, and the redemption of existing, high-cost floating-rate debt yielding 8.50%.  The financing is due on February 1, 2019 was guaranteed by major shareholders and carries a fixed rate of only 3.04%.

JP Morgan Chase is a leading global financial services firm and one of the largest banking institutions in the United States with operations worldwide.

According to HUTN CEO Christopher Daniels, the financing will "add fuel to the execution of our marketing strategies, supporting customer development and user acquisition for the various products and platforms of our subsidiaries. We appreciate JP Morgan's decision to finance HUTN's growth."

About HUTN, Inc.

HUTN, Inc. is a holding company whose subsidiaries provide B2C internet services. HUTN Group Inc., a wholly owned subsidiary of HUTN, Inc. is the parent company of:  (i) EF Hutton, Inc., a provider of digital finance and investment services, and a legendary brand that has been known for innovation for over 113 years; (ii) Vibrant Mobility, Inc., a mobile communications services provider; and, (iii) Megga, Inc., an integrated social networks and online services provider.  HUTN, Inc.'s subsidiaries offer innovative financial products designed to work for everyday people.  HUTN, Inc. stock is traded under the symbol HUTN. Learn more at www.efhutton.com.

Cautionary Note Regarding Forward-Looking Statements. Certain statements contained in this press release that are not historical facts may constitute "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

EF Hutton, Inc., Vibrant Mobility, Inc., and Megga, Inc. are subsidiaries of HUTN, Inc.

 

SOURCE HUTN, Inc.


These press releases may also interest you

at 08:40
Stratus Properties Inc. , a diversified real estate company with holdings, interests and operations in the Austin, Texas area and other select markets in Texas, today reported year ended December 31, 2023 results. Highlights and Recent...

at 08:36
Planet Home Lending, a premier national mortgage lender, servicer, and asset manager, has hired Andy Insua as Regional Sales Manager for the Southeast. With a diverse financial services background in consumer finance, commercial banking, and mortgage...

at 08:35
Zoetis Inc. will host a webcast and conference call at 8:30 a.m. (ET) on Thursday, May 2, 2024. Chief Executive Officer Kristin Peck and Executive Vice President and Chief Financial Officer Wetteny Joseph will review first quarter 2024 financial...

at 08:35
Atara Biotherapeutics, Inc. , a leader in T-cell immunotherapy, leveraging its novel allogeneic Epstein-Barr virus (EBV) T-cell platform to develop transformative therapies for patients with cancer and autoimmune diseases, today reported financial...

at 08:34
Kruze Consulting, the startup accounting and CFO consulting firm servicing more than 800 venture funded startup clients, has released new data on how startups have changed their banking strategies a year after the SVB collapse. According to the data,...

at 08:34
RapidVerify, a provider of identity verification solutions, today announced it has become an authorized E-Verify Employer Agent. This designation underscores RapidVerify's commitment to streamlined and reliable employment eligibility verification for...



News published on and distributed by: