Flow Capital Exits Debt Investment in Boardwalktech
TORONTO, June 25, 2018 – Flow Capital Corp. (“Flow Capital” and “Flow”) wishes to announce that it has exited its debt investment in Boardwalktech Software Corp. (“Boardwalktech”), earning a 2.2X return in the six months since making its investment. Boardwalktech commenced trading on the TSXV on June 11, 2018 under the ticker symbol BWLK.
In addition to the investment return described above, and pursuant to the advisory agreement between Flow Capital and Boardwalktech signed in December 2017, Flow Capital continues to hold 79,884 common shares and 319,540 common share purchase warrants of Boardwalktech.
Based in Cupertino, California and founded in 2005, Boardwalktech has developed a patented digital ledger technology that allows for multi-party collaboration and verification on a trusted, shared, secure, and private information cloud. The Boardwalk Enterprise Blockchain data management platform allows rapid blockchain application development on many platforms using any user interface, supporting both on/off-chain “smart contract” business logic, integration with legacy systems and an easy method of connecting all participants. Boardwalktech’s customers include twenty-three of the Fortune 500.
“Flow Capital’s unique value proposition is evident in our experience with Boardwalktech. Our innovative form of growth capital fuels expansion in our portfolio companies and delivers excellent risk-adjusted returns to our shareholders. In addition to investing capital, we invest our time and our expertise in order to help catalyze meaningful step-ups in portfolio company enterprise value, sharing in the upside through warrants and equity” stated Robb McLarty, Acting Chief Executive Officer of Flow. “We will continue to execute on opportunities like Boardwalktech, from both the United States and Canada, in order to continue to fulfill our mission of building shareholder value.”
About Flow Capital Corp.
Based in Toronto, Flow Capital Corp. is a diversified alternative asset investor and advisor, operating two divisions: an investment operation providing revenue-linked capital to emerging growth businesses, and an institutional advisory sales platform providing pension funds, charities and endowment clients with access to leading institutional money managers from around the world. Learn more at www.flowcap.com.
For further information, please contact:
Flow Capital Corp.
Chief Executive Officer (Acting)
Phone: (416) 777-0383
1 Adelaide Street East, Suite 3002,
Toronto, Ontario M5C 2V9