Littlebanc Advisors Secures $3 Million Private Placement for SkyShop Logistics, Inc., an International e-Commerce Service Compan
May 19 2011 - 10:14AM
Littlebanc Advisors, LLC, Boca Raton, Florida, announced the
completion of a private placement financing totaling $3 million in
the form of senior secured convertible debt for SkyShop Logistics,
Inc. The single Institutional Investor, LBI Investments, LLC, is an
affiliate of Littlebanc, which acted as the sole placement agent
and financial advisor.
The proceeds of the offering will be used to market SkyShop's
unique Sales Tax Free Zone to non-U.S. resident online shoppers.
International shoppers using the company's U.S. address facility in
Miami, Florida, will now be exempt from paying the 7% Florida State
and Miami Dade County Sales/Use tax. Under its recently signed
agreement with American Express, the company will market its U.S.
address facility to AMEX cardholders in Eastern and Central Europe
and the Middle East. These regions have a large, growing internet
consumer base with disposable income seeking to shop from U.S.
online merchants.
"We believe this financing will enable us to dramatically expand
e-merchant and consumer awareness and utilization of our
cross-border shopping facilitation capabilities," said A.J.
Hernandez, President of SkyShop Logistics, Inc.
Client Information
SkyShop Logistics, Inc., (OTCBB:SKPN) is an e-commerce service
company that provides cross-border shopping facilitation services
to non-US based shoppers accessing US online merchant sites. The
service provides a U.S. address to simplify shopping as if the
buyer resided in the U.S. The company's shopping portals facilitate
the experience of the online international shopper from the time of
purchase through cross-border delivery. SkyShop's services allow
U.S.-based Internet merchants to accept international orders
without the risks. The company markets its services under
agreements with major world banks and credit card companies,
including American Express, HSBC, Citibank, Santander, Itau in
Brazil, and Banamex in Mexico. These agreements offer the bank's
credit/debit card members shopping portals, under the bank's brand,
that facilitate their purchases at U.S. merchant sites. Clients use
the SkyShop Tax Free Zone Address as their U.S. shipping address.
Upon receipt at SkyShop's Miami Airport hub, the goods are
inspected, repacked and documented for shipping to the buyer's home
country. Upon arrival at the destinations, SkyShop arranges customs
clearance, pays applicable foreign duties and taxes and delivers
the merchandise to the consumer's home.
For more information please visit www.skyshoplogistics.com
About LBI Investments, LLC
LBI Investments, LLC, an affiliate of Littlebanc Advisors, LLC,
is a merchant bank that invests in small, high quality growth
companies. LBI Investments, LLC takes an active approach to its
portfolio companies and assists these companies in realizing their
potential.
About Littlebanc Advisors, LLC
Littlebanc Advisors, a merchant and investment banking firm,
specializes in funding small, high quality growth companies. With
its roots in research and long established Wall Street
relationships, Littlebanc matches client companies with
partner-minded investors fostering a stable and long- term
shareholder base.
For more information please visit www.littlebanc.com
Littlebanc Advisors LLC, securities offered
through Wilmington Capital Securities LLC, Member
FINRA/MSRB/SIPC.
CONTACT: LITTLEBANC CONTACT INFORMATION
Michael Margolies, CEO
561-948-0986
mm@littlebanc.com
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