Global Business Markets gets $3 million equity agreement

By Sheri Kasprzak

Atlanta, Nov. 9 - Global Business Markets Inc. has received $3 million in a standby equity distribution agreement, the company said Tuesday.

The company received the agreement from a U.S.-based investment fund. The funding may be drawn down at Global Business Markets' discretion for common stock.

The company may request up to $150,000 in any four-day period in exchange for common stock.

Additional details about the agreement could not be obtained by press time Tuesday.

Based in Longwood, Fla., Global Business Markets designs and manufactures electric and acoustic guitars. The company's stock closed down $0.018 Tuesday at $0.047.

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