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CLEARWATER — ValCom Inc. (symbol: VLCO), a Clearwater-based entertainment company, acquired $1 million in credit from Solomed PTE Ltd., a hedge fund based in Singapore.
ValCom will use the money for acquisitions, a stock buyback and operations funding, a release says. While ValCom committed to borrowing $1 million, the company may eventually borrow an additional $2 million according to the terms signed.
ValCom licenses its portfolio of licensed television, film and audio content to various media clients, including Paramount Pictures and Warner Bros. A recent audit completed by DOS Broadcast and Appraisal Services set the estimated value of ValCom's media portfolio at roughly $120 million.
The per-share value of ValCom's stock is currently near 1 cent. But with 109.7 million shares outstanding, the company's total enterprise value currently sits at roughly $1.7 million.
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