UAT Group Reached Agreement with Strategic Capital Partner
Tampa, FL
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May 19, 2023 08:00 AM Eastern Daylight Time
Umbra Applied Technologies Group, Inc. (OTC: UATG) announced today that it has reached an agreement with a strategic capital partner to support the growth of its subsidiary Ossifix Orthopedics.
The private equity firm specializes in the medical field. The firm’s focus provides strategic growth capital and works with existing management to increase sales, benefiting both its own investors and value for all Ossifix shareholders.
As part of the agreement, the new partner will become a nine percent stakeholder in Ossifix Orthopedics and will provide up to $2 million in funding capital. The firm will also provide additional value such as its investors and relationships to include an extensive portfolio of surgeons, medical facilities and knowledgebase, which will be utilized to further expand marketing and sales for Ossifix.
Chief Financial Officer, Thomas Crom stated, “Although this reduces our ownership in Ossifix it dramatically increases Ossifx capability to move forward without any dilution to UATG’s shareholders. This Ossix transaction illustrates the creative ways UATG can fund its subsidiaries without diluting its current UATG shareholders. This type of funding is complex and time-consuming but illustrates Ossifix’s intrinsic value is now being recognized by others.”.
This announcement on Friday came amid growing optimism among the Company’s executives that the traction the UAT Group conglomerate has gained in the first half of the year will exceed its expectations for the year; positioning it for a remarkable year. The investment into Ossifix contributes to the Company's consolidated growth initiatives which include augmenting existing product offerings and service capabilities of its subsidiaries as well as positioning infrastructure resources in support of planned expansion.
UAT Group Chairman, Alex Umbra commented, “As always, UAT Group stands ready to support each of our subsidiaries, in any way necessary, as we capitalize on the values we create together. This new relationship will not only provide strategic capital but will continue to support growth objectives that will bolster shareholder value, streamline balance sheet debt and enable verticals to be realized sooner”.
About Umbra Applied Technologies Group, Inc.
The firm is located in Tampa, Florida and focuses on advanced technologies across many disciplines. UAT Group is a holding company with interests in both public and private companies during the early stages of development as well as growth stages of companies with a synergistic business model to UAT Group subsidiaries.
For more information, visit: www.uatgroup.com
Investor and Media Contact: info@uatgroup.com
For more information about Ossifix Technologies, go here: https://ossifixtech.com/
NEITHER THE SECURITIES EXCHANGE COMMISSION NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Forward-Looking Information
This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and a secondary listing on the OTC as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Umbra Applied Technologies Group including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Umbra Applied Technologies Group does not assume the obligation to update any forward-looking statement, except as required by applicable law.
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Umbra Applied Technologies Group, Inc.
