Towerstream Corporation Announces $35.0 Million Secured Financing
New York, NY – October 27, 2014 – Global Newswire – New York based securities law firm Sichenzia Ross Friedman Ference LLP announced that it has represented Towerstream Corporation in a five-year, $35 million secured debt financing agreement with affiliates of Melody Capital Partners, LP.
As part of the financing, Towerstream issued warrants to purchase 3,600,000 shares of common stock of which two-thirds of the warrants will have an exercise price of $1.26 and one-third will have an exercise price of $0.01. The Sichenzia Ross Friedman Ference LLP team was led by partner Harvey J. Kesner, Counsel Ed Schauder and Associate Avital Even-Shoshan.
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Sichenzia Ross Ference LLP is a full service law firm with a nationally recognized corporate, securities and litigation practice that provides experienced representation in all matters involving the securities industry. In addition to handling routine to complex commercial matters, SRF’s renowned litigation department specializes in defending companies and individuals against all types of securities cases, including class action lawsuits, shareholder derivative actions, and matters involving allegations of fraud, misrepresentation or other securities violations. The litigation team has also brought defamation lawsuits against companies and individuals related to market manipulation. Additionally, it represents individuals and companies in investigations by the Securities and Exchange Commission (SEC) and other regulatory bodies. The litigation team has a robust practice representing brokers and broker-dealers in arbitrations before the Financial Industry Regulatory Authority (FINRA). These arbitrations typically involve claims of unsuitability, churning, unauthorized trading and other allegations of broker misconduct. Finally, SRF has a burgeoning expungement practice, where it represents brokers seeking to have negative and harmful customer complaints removed from their industry records. The firm complements its core practice areas with an established commercial real estate and trusts and estates practice.
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