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Here To Serve Holding Corp. Enters Into Agreement To Acquire Assets Of An Additional Solid Waste Company; Company Also Releases More Details of Previous Acquisition Announced May 14, 2014
Here To Serve Holding Corp. Enters Into Agreement To Acquire Assets Of An Additional Solid Waste Company; Company Also Releases More Details of Previous Acquisition Announced May 14, 2014.
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[{"type":"text","content":"\n\n\n\nHere To Serve Holding Corp. Enters Into Agreement To Acquire Assets Of An Additional Solid Waste Company; Company Also Releases More Details of Previous Acquisition Announced May 14, 2014\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nHere To Serve Holding Corp. Enters Into Agreement To Acquire Assets Of An Additional Solid Waste Company; Company Also Releases More Details of Previous Acquisition Announced May 14, 2014\nHTSC CEO says company's strategy for the future includes additional acquisitions in the solid waste industry, up-listing to the NYSE MKT, registering an S1 with the SEC, completing a secondary offering and launching a proprietary ground breaking mobile app, cConnects\nPR Newswire\nATLANTA, May 28, 2014\n\n\n\nATLANTA, May 28, 2014 /PRNewswire/ --Here To Serve Holding Corp., (OTC: HTSC) (OTC Pink), which had previously announced on May 14, 2014 that it had closed on the acquisition of nearly all of the assets and operations of its initial waste management company, Meridian Waste Services in St. Louis, MO area, today announced that its Waste Division has entered into a Letter of Intent (\"LOI\") to acquire assets of another solid waste company in a Southeastern market.  \n\nThe Company anticipates that the transaction will add additional revenue and positive earnings to HTSC.  \n\nOn May 15th, 2014, HTS-Missouri Waste Division, LLC (\"HTS-MWD\"), a wholly-owned subsidiary of Here To Serve Holding Corp., acquired the 100% of the assets of Meridian Waste Services, LLC from its then partners for over $20 million in cash and stock in the Company.  \n\nFinancing of the transaction consisted of a senior debt facility of $9.5 million, $1.5 million in seller subordinated financing, roughly 13.2 million restricted shares of HTSC and 71,210 Preferred Shares –Series B. In addition, HTSC secured two credit facilities for ongoing capital expenditures and working capital. HTSC anticipates HTS-MWD will add annual revenues in excess of $11.5M, annual EBITDA close to $2.9M and Net Income of over $1.2M.\n\nIn releasing additional details of the ...