Adams Arms, Inc., today announced the completion of a $2.7 million capital raise. Littlebanc Advisors, LLC, a Boca Raton-based merchant and investment banking firm, acted as the sole placement agent and financial advisor for Adams Arms.
“We are very excited to have the working capital necessary to support our explosive growth, strengthen our balance sheet and allow us to move forward on several key strategic initiatives,” said Michael K. Froning, President and Chief Executive Officer of Adams Arms.
Froning added, “The professionalism, access to key strategic partners and quickness to complete the raise by Michael Margolies and the Littlebanc team simplified this transaction and positions Adams Arms to take advantage of the momentum of the firearms industry.”
“Adams Arms’ core technology has created a revolutionary rifle design that solves significant flaws associated with today’s firearms,” said Michael Margolies, Chief Executive Officer of Littlebanc Advisors. “The growing demand for Adams Arms’ products demonstrates that the company is poised to scale production rapidly and gain market share. We are pleased to be working with another high-quality Florida company and remain dedicated to helping Florida companies grow.”
Adams Arms manufactures piston rifles, piston uppers, retrofit systems and related parts for black rifles in multiple calibers, lengths and configurations for sale under the Adams Arms brand name. Adams Arms also has OEM agreements with several industry leaders allowing them to utilize this proprietary technology on their products.
Adams Arms is the owner of three patents granted from the U.S. Patent and Trademark Office that cover its proprietary piston operating technology on all rifles, configurations and retrofits. Adams Arms has also submitted patent applications covering more than 30 countries to support its international distribution strategy.
Learn more about Adam Arms at Adamsarms.net.
Adams Arms, Inc., today announced the completion of a $2.7 million capital raise. Littlebanc…
by Tactical-Life / Jul 10, 2012