West Coast Asset Management, Inc. leads with $14 million investment
Hicksville, N.Y.-- (BUSINESS WIRE)--American Defense Systems, Inc., offering advanced solutions in the design, fabrication and installation of transparent and opaque armor, security doors, windows and curtain wall systems, announced today that the Company has secured $15 million in financing through a private placement of Series A Preferred Stock and Warrants with West Coast Opportunity Fund, LLC, managed by West Coast Asset Management, and Centaur Capital Partners.

American Defense Systems issued a total of 15,000 restricted shares of Series A Preferred Stock and Warrants at $1,000 per share. The Company indicated that it will use the funds to finance its growth plans, including the development of additional proprietary technologies, select acquisitions (ADSI has not entered into any definitive agreements with respect to any such future acquisitions) and other general purposes.

Mr. Anthony J. Piscitelli, Chairman & Chief Executive Officer of American Defense Systems, Inc,, stated, “Our announcement today is a major milestone for ADSI as it further strengthens our balance sheet, providing enhanced financial flexibility and support for our long-term development as an innovator in the fields of armor and physical security. We are excited to have West Coast Asset Management and Centaur Capital Partners on board as new strategic investors to support the next stage of ADSI’s growth and development.”

Atticus Lowe, Chief Investment Officer of West Coast Asset Management commented, “We believe this investment in ADSI is a strong endorsement of the innovative technologies, people and profitable growth potential we see for ADSI as we look out to the future. As a designer and manufacturer of armor systems for premier military, government, law enforcement and corporate customers, ADSI has a proven track record of deploying leading edge solutions to protect its customers in the most challenging environments. With a strong management team at the helm, we are pleased to be supporting ADSI as they expand their customer base and product offerings.”

Founded in 2000 by Kinko’s founder Paul Orfalea and Lance Helfert, West Coast Asset Management provides exclusive equity and alternative asset management to high net worth individuals, institutions and charitable foundations through separately managed accounts and West Coast Opportunity Fund, LLC. Centaur Capital Partners is a Dallas-based value oriented investment management firm. Midtown Partners provided investment banking services on behalf of American Defense Systems in this transaction.