Established in 1998, CheckAGAIN uses automated clearinghouse (ACH) transactions to electronically re-present returned checks, primarily for major retailers. The company has developed a proprietary system for electronically recovering checks that were returned because of insufficient funds. With CheckAGAIN’s services, businesses are able to increase their recovery on return checks, while lowering associated transaction fees. CheckAGAIN assists consumers by significantly reducing inconveniences normally associated with resolving misunderstandings due to returned checks. CheckAGAIN retained Outcome Capital as placement agent to raise capital so that it could repurchase interests from certain shareholders and to provide growth capital for continued expansion. Outcome Capital was retained as sell the Company because of the firm’s ability to run a highly efficient transaction process and target the appropriate capital providers.
CheckAGAIN issued $5 million of subordinated debt with warrants to Patriot Capital and Seacoast Capital both of which are SBIC backed subordinated debt funds. Outcome Capital acted as placement agent and financial advisor to CheckAGAIN in connection with the transaction.