This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Cover-All Technologies Receives Credit Facility For Working Capital From Imperium Partners

Stocks in this article: COVR

Cover-All Technologies Inc. (NYSE MKT:COVR), a Delaware corporation and provider of the Cover-All family of insurance software solutions for the property / casualty (P&C) insurance marketplace, announced today that Imperium Commercial Finance Master Fund LP, an affiliate of Imperium Partners, has provided a $2.25 million credit facility for working capital purposes which will support Cover-All’s product/services expansion and growth initiatives.

The $2.25 million credit facility consists of a $2 million three-year term loan, bearing interest at a fixed rate of 8% per annum, and a $250,000 revolving credit facility, also bearing interest at a fixed rate of 8% per annum. Imperium also will receive five-year warrants to purchase 1.4 million shares of Cover-All's common stock, with an exercise price of $1.48 per share.

“Cover-All is pleased to have entered into this credit facility and to have established a financial relationship with Imperium Partners Group, which clearly understands the needs of a growth company like ours,” said John W. Roblin, Chairman and CEO of Cover-All Technologies. “This financing gives us flexibility to execute on our business strategy of developing innovative solutions and expansion of our sales/marketing activities.”

“We are pleased to provide this facility for Cover-All,” said John Michaelson, CEO at Imperium Partners. “Cover-All is a company with outstanding leadership, customer base, products and growth potential. We look forward to contributing to its long-term success.”

Cover-All is transforming itself from a niche provider of policy administration software to a leading provider of a full suite of insurance solutions for the property and casualty industry. The transformation includes two strategic acquisitions, introduction of a new Policy administration platform, complete development of out of the box insurance products (including ISO Commercial Automobile, Commercial General Liability, Crime, Inland Marine, Property, Business Owners Policy and NCCI Workers Compensation), Claims, and an exciting new Business Intelligence product. In addition, Cover-All will be introducing a new Billing system and a set of capabilities (Dev Studio) that are designed to enable customers to develop and support their own products utilizing robust tools.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs