Aquesta Financial Holdings, Inc. announced that it has received $15.0006 million in funding from Castle Creek Capital LLC
On February 1, 2019, Aquesta Financial Holdings, Inc. closed the transaction. The company issued common shares and convertible perpetual preferred stock for gross proceeds of $15,000,600. The transaction involved participation from new investor Castle Creek Capital LLC. The common shares were issued at $11.5 per share and for proceeds of $14,100,000. The company announced that Castle Creek Capital Partners VII, LP, a fund managed by Castle Creek Capital LLC also received a warrant for 150,000 of its shares exercisable at a price of $11.50 per share, in whole or in part and at any time or from time to time, during the next seven years. Post closing of the transaction, the investor holds 9.9% stake in the company. The company will receive $200,000 from the board of directors of the company.