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Newberry Specialty Bakers announces stock ticker change and secures $1m working capital

RBR Staff Writer Published 16 March 2016

Newberry Specialty Bakers, a provider of wholesale specialty baked goods to the grocery and food service industry, has announced a change in the company's stock symbol.

The Company's common shares trade on the NASDAQ markets under the trading symbol of "NBRY" (NASDAQ: NBRY).

Bill Evans, CEO of Newberry Specialty Bakers, noted "Our new symbol NBRY will foster a stronger, consistent brand for the Company. Fully rebranding as Newberry Specialty Bakers poises marketing and sales in the strategic direction of growth." Part of the growth strategy is to better utilize working capital which provides the means to improve our business and grow shareholder value from current levels.

With a key direction of growth outlined, Newberry Specialty Bakers secured a $1M credit facility from LSQ Funding Group, L.C. (LSQ), one of the country's leading invoice financing providers for small and midsized businesses.

Howard G. Anders, President of Newberry Specialty Bakers, shared, "These funds will help us accelerate our purchase of equipment and inventory that's critical to fulfilling new orders and keeping our growing list of customers happy." The opportunity to work with LSQ Funding focuses the Company on growing Newberry Specialty Bakers' topline and profitability while strengthening the balance sheet.

"For two decades, we've been helping small business owners expand their businesses by ensuring they had a consistent source of liquidity available on demand," said Max Eliscu, founder and CEO of LSQ. "Our team of experts worked closely with Newberry Specialty Bakers and their bank client manager to structure a facility that fit the company's needs. We're happy to support their growth and passion for quality."

Source: Company Press Release