has issued Series A Preferred Stock with Warrants to an investor group led by
Access is a provider of integrated communications services to small and mid-sized businesses.
Access provides local exchange, long distance, and other communications services to small and mid-sized businesses in nine Southeastern states. Access "leases" BellSouth's network through an Unbundled Network Elements-Platform (UNE-P) arrangement in its interconnect agreement.
The management team of Access approached Croft & Bender to raise equity to fund the Company’s growth, operations, and investment in infrastructure until the Company matured and could either fund itself with internal cash flow or exploit the debt markets. Croft & Bender was hired to draft the offering memorandum, market the Company to interested parties, and to analyze, structure, and negotiate a transaction that would raise the necessary capital.
Croft & Bender successfully raised capital for Access in a staged process that allowed the Company to generate increased valuations as its financial results improved, as well as supported the Company until it achieved positive cash flow. C&B Capital also participated in the transaction.