Insight Management has signed a definitive agreement for equity financing of up to USD10m from Auctus Private Equity Fund based in Boston.
The financing is subject to an S-1 registration statement being declared effective by the Securities and Exchange Commission. The company expects to file the S-1 in the next week.
The USD10m equity line of credit represents one phase of Insight Management’s long term financing strategy and will be used for working capital and for payments of its acquisitions in the energy industry.
Insight Management is a public holding company focused on the energy industry. The company acquires oil and gas businesses with substantial revenues, profitable operations, established customers and proven management teams.
