Viper Powersports Inc. (Pink Sheets:VPWS) announced $18.9 million in equity financing through two deals. The funding includes $3.9 million Private Investment in Public Equities (PIPE) financing completed by Bathgate Capital Partners and $15 million in the form of a Standby Equity Distribution Agreement (SEDA) with Cornell Capital Partners.
Viper Powersports develops, produces and markets a line of premium custom V-Twin cruiser motorcycles, aftermarket engines and other related aftermarket products through its subsidiaries, Viper Motorcycle Company and Viper Performance Inc. Product is distributed and sold through a nationwide independent dealer network.
"This financing provides the opportunity to launch our motorcycle product line and proprietary engines to the marketplace," said John Lai, President of Viper Powersports, Inc.
To learn more, visit www.viperpowersports.com or www.cornellcapital.com.
Copyright 2005 Powersports Business