Affirming a Strong Bond: Southridge Capital and Adama Technologies Corporation
Southridge Capital, the Ridgefield, Connecticut hedge-fund firm run by Stephen Hicks has recently entered into a $7-million equity purchase agreement with no less than Adama Technologies Corporation. This news was confirmed and announced by Southridge’s Chairman and CEO himself.
In his announcement, Stephen Hicks informed everyone that Southridge Capital, as the institutional investor, entered into the said equity agreement as it seeks investments in various growth areas. Founded in 2007, Adama Technologies Corp. (OTCBB: ADAC) is known as a clean-tech company that is championing the cause of contaminated brownfields. What the corporation does is acquire, decontaminate, revitalize, and remediate brownfields.
The CEO of Adama Technologies, Aviram Malik, implied in an interview that the equity purchase agreement with Southridge Capital would go a long way. He said, “We are pleased to have secured this $7 million USD equity purchase agreement with Southridge, a financing source that will allow us more control and flexibility in capital raise.”
In case you had no idea what Adama does, it provides research for long-term permanent solutions to the problem of heavy metal waste. We all know that these wastes are hazardous and many in the manufacturing sector are guilty of producing heavy metal waste worldwide. Adama markets its services to these manufacturers. Their technology is able to treat metals like cadmium, chromium, lead, mercury, and arsenic concurrently.
Southridge Capital invested in Adama Technologies Corp. because it has always been active in its support of environmental causes. Stephen Hicks targets areas both internationally and domestically, which show signs of growth. Through his firm, Hicks tries to help in every little way he can to provide the funding needed for such admirable causes. Southridge Capital has, in fact, provided over $1.7 billion in capital to companies in various countries like the United States, the United Kingdom, Australia, Canada, and Asia.
Southridge is a diversified financial holding company specializing in direct investment and advisory services to small and middle market companies (formerly Southridge Capital Management aka Southridge Capital).