Hyde Park Capital Closes $10 Million Financing for Litestream Technologies

Hyde Park Capital Closes $10 Million Financing for Litestream Technologies

Tampa - June 4, 2003 - Hyde Park Capital Advisors, LLC is pleased to announce the closing of a $10 million equity offering for Litestream Technologies, LLC, a Tampa, Florida-based telecommunications services provider. American Capital Corporation of Jupiter, Florida was the sole investor in this transaction. Hyde Park Capital Advisors, LLC, the investment banking subsidiary of Hyde Park Capital Partners, LLC, served as Litestream's exclusive placement agent in the transaction.

"Completing this financing was a major milestone for Litestream and will further fuel our rapid growth", said Robert Rubin, President of Litestream. "We look forward to having American Capital Corp. as a shareholder and a partner with a shared vision to help us grow Litestream into a large telecom services company. We appreciate the hard work of Hyde Park Capital in arranging this financing for us in a very difficult private equity market."

"We believe that our acquisition of a majority interest in Litestream Technologies will make a significant contribution in achieving the overall objectives of American Capital Corporation. We look forward to a long and mutually beneficial relationship with TECO Fiber, Inc.", said Patrick Harrington, Chairman of American Capital Corp.

"In spite of a very challenging capital raising environment for early-stage telecommunication services firms, Litestream's experienced management team, compelling business model and tremendous progress since inception resulted in the company receiving significant investment interest", said John McDonald, Managing Director for Hyde Park Capital. "We are pleased to have been selected by Litestream to arrange their growth financing and believe that Litestream is well positioned to achieve its growth objectives with this new capital investment."

About Litestream Technologies

Litestream Technologies is a rapidly growing captive facilities-based provider of bundled services including telephone, cable, high-speed Internet, and alarm monitoring services to new residential master-planned communities in Florida. The services are delivered over high-quality fiber optic distribution systems installed by Litestream within each community using state-of-the-art technology and are originated out of local physical head-ends built and owned by Litestream. The company is based in Tampa, Florida and is partially owned by TECO Fiber, a subsidiary of TECO Energy, Inc. For additional information about Litestream, call (813) 228-4730.

About American Capital Corporation

American Capital Corporation, based in Jupiter, Florida, is a private equity firm which acquires controlling interests in rapidly growing private companies that offer excellent returns. For additional information about American Capital, call (561) 427-0600.

About Hyde Park Capital

Hyde Park Capital is an institutionally focused boutique investment bank primarily serving the corporate finance needs of private and public companies in Florida and the Southeast. Hyde Park Capital's principals have significant transaction experience raising private capital for companies, including equity, mezzanine and debt, and successfully executing merger & acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory and fairness opinions. Hyde Park Capital has significant experience in the financial services, technology, healthcare, consumer, and manufacturing sectors, but is broadly focused on representing outstanding companies in any industry. Hyde Park Capital has offices in Tampa, Florida and Charlotte, North Carolina and is a member of the NASO and SIPC. For additional information about Hyde Park Capital visit www.hydeparkcapital.com or call (813) 383-0202.

Client Testimonials

"Hyde Park’s team guided us through the process, providing us with a number of high quality counter-parties, and supported us through the transaction structuring, negotiation and due diligence. We are very pleased with the outcome and excited for the future of DTS.”
Allen Ibaugh, Co-Founder and CEO of Data Transfer Solutions
“We enjoyed working with Hyde Park Capital and appreciated their M&A expertise in the technology services sector and their help on this important transaction.”
Chris Toepke, CEO of Trifecta
“We very much appreciated the assistance of Hyde Park Capital on this strategic acquisition for ITE. Their M&A experience was quite helpful to our team and the overall process and assured the deal was well executed and we got it closed on schedule.”
Scott Dols, CEO of Industrial Truck & Equipment, LLC
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