Coastal Integrated to conduct $5 million private equity financing

Company also completes two years of audits for subsidiary Simply Lids

By Devika Patel

Knoxville, Tenn., Dec. 15 – Coastal Integrated Services Inc. said it plans to secure a $5 million private equity financing.

This “private equity financing will help us move away from being a highly speculative company to an exciting innovative manufacturer with high growth potential,” president and chief executive officer John Newman said in a press release.

The company also said in a press release that it completed two years of financial audits for its subsidiary Simply Lids Inc., a disposable beverage technology company that the company plans to take public in late 2016.

Based in Las Vegas, Coastal Integrated Services is a holding company.

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