AWT to raise $1 million from financing with Wakabayashi

By Laura Lutz

Des Moines, Sept. 19 - AWT, Inc. has arranged a $1 million financing with Wakabayashi Fund, LLC, according to an AWT news release.

The terms of the financing have not been set, but it is expected to include a combination of debt and equity.

"The structure of this financing is not set, but I can assure the market, we will not accept terms that will be toxic to our present investors and the continued growth of the company," Christopher J. Neill, chief executive officer of AWT, said in the release. "Our debt service coverage on a short or long-term debt piece will be substantial, just north of 3 to 1."

AWT is a medical equipment and supply company based in Somerset, N.J.

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