firstSTREET for Boomers & Beyond, Inc., a Colonial Heights, VA.-based direct marketer of innovative products for aging consumers, has raised $4.2m through the issuance of senior convertible subordinated notes to a group of investors led by Jefferson Capital Partners, Ltd.
Simultaneously, the company closed a $1.5m working capital facility with First Tennessee Bank.
As also stated by Mark R. Gordon, firstSTREET’s President and CEO, the company intends to use the new capital to retire its existing working capital facility and to expand its product line and distribution channels.
firstSTREET’s products are advertised in America’s major magazines targeted to aging consumers and marketed to over 2.5 million customers (average age 70) via its web site, monthly catalogs and direct mail.
FinSMEs
04/01/2011