Capstone Partners advised InfoSonics, a leading telecommunications equipment provider, on securing $14.4 million in financing via an equity capital raise with an undisclosed institutional investor.
Based in San Diego, Infosonics develops, manufactures, and distributes wireless handsets and accessories through its proprietary brand “verykool” and other private label brands. The company sells its products through carriers, distributors, and original equipment manufacturers (OEMs) in Latin America, Europe, Africa, Asia Pacific, and the United States. It is best known for its line of inexpensive unlocked phones as well as its rugged phones in its verykool line of products.
To aid in future growth initiatives, InfoSonics engaged Capstone Partners to advise on the private placement of 2.2 million shares, which took place in January 2006. Later, Infosonics President and CEO Joseph Ram commented, “During 2006 we continued to control our costs and in spite of investments in our infrastructure, we achieved another year of profitability. With a sound strategy, solid financial position and a proven track record of success, we believe that InfoSonics is well-positioned to capitalize on future opportunities.”
