Daily News: February 11, 2013

Omega Comm’l Finance Secures $100MM Equity Line

Omega Commercial Finance (OCFN) signed a standby equity purchase agreement for a $100 million funding equity line with Lambert Private Equity. OCFN plans to utilize these funds to support operations for its commercial real estate financing subsidiaries, Omega Capital Street and Omega CRE Group.

This equity line serves as a catalyst for OCFN’s acquisition “roll-up” growth strategy by enabling the company to now aggressively lock in new acquisition targets and move current pending targets from Letter of Intents, to definitive agreements, and finally to acquisition closings such as the previously announced minority acquisition stake of VFG Securities Incorporated & VFG Advisors Incorporated.

Omega is a publicly traded financial services holding company with subsidiaries encompassing up to $180 million in assets under management.