MIAMI BEACH, Fla., Oct. 5, 2011 /PRNewswire/ -- Divine Skin, Inc. (OTC Bulletin Board: DSKX) announced the completion of a $1.73 million equity capital raise. Littlebanc Advisors, LLC, acted as the sole placement agent and financial advisor for Divine Skin. The deal was funded by both private and institutional investors. The growing biotech developer will deploy the new capital to fill orders for its expanding pipeline of distributors in Europe, Mexico, and Japan, as well as in the United States.
"We chose Littlebanc because of its successful track record of providing unstructured equity growth capital to early-stage companies," said Daniel Khesin, CEO of Divine Skin. "We view Littlebanc's involvement as an endorsement of what we are achieving."
"Divine Skin's high-quality and proprietary products have allowed the company to achieve impressive revenue growth since inception," said Michael Margolies, CEO of Littlebanc Advisors. "This round of financing will allow Divine Skin to continue acquiring market share with their innovative products. We are very pleased to be working with another high-growth Florida company."
Divine Skin's recent achievements include:
- A record-setting $2.3 million in quarterly revenue for Q2 2011.
- The release of the world's first topical hair-growth treatment based on the breakthrough peptide astressin-B.
- The introduction of the new compound Nanoxidil, designed to surpass minoxidil for efficacy and tolerability, which will facilitate new international distribution agreements.
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