DSS Invests $40 Million into American Pacific Bancorp
September 09 2021 - 7:00AM
Document Security Systems, Inc. (“DSS” or the “Company”) (NYSE
American: DSS), a multinational company operating business segments
in blockchain security, direct marketing, healthcare, consumer
packaging, real estate, renewable energy, and securitized digital
assets, today announced it signed a subscription agreement for a
$40 million investment in American Pacific Bancorp (“APB”).
Pursuant to the subscription agreement, APB will issue 6,666,700
shares of its common stock to DSS at $6.00 per share.
“APB has assembled a strong pipeline of
diversified loans from home mortgages, licensed medical real estate
financing, district bonds, SME loans, convertible loans and profit
participation loans,” stated Frank D. Heuszel, CEO of DSS. “This
investment represents a strong validation of APB’s business model,
and this fresh injection of funds should significantly improve
APB’s ability to execute its plans on an expedited basis.”
As a result of this investment, DSS has acquired
over 50% of APB’s outstanding shares of common stock, making DSS
the majority-owner of APB. As APB acquires equity positions of
commercial banks in the US, it targets to inject digital banking
capabilities into the banks to provide global banking services to
global clients and increase efficiency.
“As majority owner of APB, we plan to quickly
deploy this capital to build a high-quality portfolio of B2B loans
and expect to have the entire $40 million generating interest for
us before the end of 2021,” added Jason Grady, COO of DSS.
About Document Security Systems, Inc.
DSS is a multinational company operating
business segments in blockchain security, direct marketing,
healthcare, consumer packaging, real estate, renewable energy, and
securitized digital assets. Its business model is based on a
distribution sharing system in which shareholders will receive
shares in its subsidiaries as DSS strategically spins them out into
IPOs. Its historic business revolves around counterfeit deterrent
and authentication technologies, smart packaging, and consumer
product engagement. DSS is led by its Chairman, Mr. Fai Chan, a
highly successful global business veteran of more than 40 years
specializing in corporate transformation while managing
risk. He has successfully restructured more than 35
corporations with a combined value of $25 billion.
For more information on DSS
visit http://www.dsssecure.com.
About American Pacific Bancorp, Inc.
American Pacific Bancorp is a bank holding company, focused on
the lending business and acquiring equity positions of commercial
bank(s) in the United States. APB is managed by a team of bankers
and entrepreneurs whose shared vision is to build a robust,
integrated technologically advanced bank holding company. DSS and
APB envision establishing a unique, customer-centric, globally
focused entity that provides banking services through digital
channels.
For more information, please visit:
https://www.amerpacbancorp.com/.
About Alset
EHome International Inc.
Alset EHome International is a diversified
holding company executing on its vision to accelerate sustainable
healthy living with a focus on the development of EHome communities
and other property development, financial services, digital
transformation technologies, biohealth activities and consumer
products. Through its operating subsidiaries, Alset EHome’s mission
is to provide a healthy living ecosystem that drives long-term
exponential growth, building liquidity and value for shareholders.
Alset EHome is led by its chairman and CEO, Heng Fai Chan, a
successful global business veteran of more than 40 years
specializing in corporate transformation while managing risk. Over
his distinguished career, Heng Fai Chan has successfully
restructured more than 35 corporations with a combined value of $25
billion.
For more information, please visit: www.alsetehomeintl.com.
Investor Contact:
Dave Gentry, CEORedChip Companies
Inc.407-491-4498Dave@redchip.com
Safe Harbor Disclosure
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements include, but are not limited to,
statements related to the Company's intended use of proceeds and
other statements that are not historical facts. Forward-looking
statements are based on management's current expectations and are
subject to risks and uncertainties that may cause actual results or
events to differ materially from those projected. These risks and
uncertainties, many of which are beyond our control, include: risks
relating to our growth strategy; our ability to obtain, perform
under and maintain financing and strategic agreements and
relationships; risks relating to the results of development
activities; our ability to attract, integrate and retain key
personnel; our need for substantial additional funds; patent and
intellectual property matters; competition; as well as other risks
described in the section entitled "Risk Factors" in the prospectus
and in our other filings with the SEC, including, without
limitation, our reports on Forms 8-K and 10-Q, all of which can be
obtained on the SEC website at www.sec.gov. Readers are cautioned
not to place undue reliance on the forward-looking statements,
which speak only as of the date on which they are made and reflect
management's current estimates, projections, expectations and
beliefs. We expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in our
expectations or any changes in events, conditions or circumstances
on which any such statement is based, except as required by
law.
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