The Graystone Company acquires Direct Capital | ET REALITY


Florida-based financial services companyThe Graystone Companyhas completed the acquisition of mortgage banker and brokerDirect Equity Investment Groupthrough a reverse merger transaction, the companies announced Monday. Financials of the deal were not disclosed.

Direct Capital, through its subsidiaryDirect Mortgage, offers residential, commercial and SBA loans, according to its website. The company has 98 credit agents and six branches, according to theNational Multistate Licensing System(NMLS).

Direct Mortgage oversaw the financing of $119 million in 353 mortgage loans from January through August 2023, per National Stock Market Commission (SEC) filings. And, in a shrinking mortgage market, it posted revenue of $1.8 million and posted a loss of $20,583 from January to May.

By comparison, in 2022, the company’s total volume was $152 million across approximately 450 mortgage loans. Last year, the company reported $6.3 million in revenue but had a $1.7 million loss (unaudited), SEC filings show.

The deal with The Graystone Company resulted in a change in control of Direct Capital Investment from Anastasia Shishova to James Anderson.

“EM. Shishova will transfer 40,951,000 shares of Class B common stock to Direct Capital Investment shareholders. Once the acquisition is completed, Direct Capital Investment shareholders will own approximately 80% of the company’s voting power and will be the sole officers and directors of the company.”

As part of the transaction, Shishova resigned as CEO of the company and sole director of Direct Capital. Anderson was named president and CEO. Experienced mortgage professional Glen Gomez will also serve as director.

“As a result of the acquisition of DCIG/DMI, the company will focus exclusively on operating and expanding the mortgage lending business and will cease all of its existing business operations,” Graystone’s SEC filings state.

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