Western Capital Resources Enters Into Merger Agreement
OMAHA, Neb., Sept. 2, 2014 /PRNewswire/ — Western Capital Resources, Inc. (OTCQX: WCRS) and BC Alpha Holdings II, LLC, a Delaware limited liability company owning approximately 90% of the ownership interests in AlphaGraphics, a franchise model global leader in marketing and print communications, announced today that they had entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”) pursuant to which Western Capital will acquire the business of AlphaGraphics in exchange for its issuance, to the owners of BC Alpha Holdings II, of common stock that will aggregate to approximately 45% of the common stock of Western Capital issued and outstanding immediately after the merger. Western Capital currently operates a cash-advance business with approximately 51 locations in the midwestern United States, and a prepaid wireless phone retail business as a Cricket premium authorized dealer with approximately 58 locations.
“We are excited about the opportunity to combine with AlphaGraphics, diversify our operations and grow our revenues and our business,” said Western Capital’s CEO, John Quandahl.
The consummation of the merger will be subject to certain customary conditions, but is expected to close as early as September 30, 2014.
About Western Capital Resources, Inc. – Western Capital Resources, Inc., through its subsidiaries, provides retail financial services and retail cellular phones. It offers non-recourse cash advance loans (often referred to as “payday loans”), check cashing, and other money services, as well as money transfers and money orders. In addition, Western Capital Resources operates as a Cricket premium authorized dealer reselling cellular phones and accessories, and accepting service payments from Cricket customers.
About AlphaGraphics, Inc. – AlphaGraphics is a franchisor in a global network of over 260 independently owned and operated business centers, united by the single purpose of driving results for its clients through innovative and effective marketing and printing services.
Source: Western Capital Resources
