First Priority Group Announces Sale of Company Common Stock in a Private Placement
2 September 1997
First Priority Group Announces Sale of Company Common Stock in a Private PlacementPLAINVIEW, N.Y., Sept. 2 -- First Priority Group, Inc. (OTC Bulletin Board: FPGP) announced today that it completed a private placement resulting in the sale of $1.5 million of its common stock at $2 per share. A senior executive of the Company purchased one-third of this private placement. First Priority Group intends to utilize the proceeds as the first phase of its fund-raising activities to begin its nationwide consolidation of collision facilities. The Company is presently in discussion with a number of sources to fund its future capital needs for this activity. First Priority Group currently administers collision repair referral services for self-insured fleets, insurance companies, and consumers. SOURCE First Priority Group, Inc.