Date closed: 09/30/2015

Value: C$4.5 million

On September 30, 2015, Qwave Capital LLC (Qwave) successfully acquired ownership of 8,878,905 common shares of IOU Financial Inc. (IOU), representing approximately 14.44% of the issued and outstanding Common Shares of IOU .f completed the C$4.5 million acquisition of common shares under its partial takeover bid for IOU Financial Inc.

Qwave, headquartered in Denver, Colorado, is a venture capital firm focused on promising, technologically advanced companies.

IOU, headquartered in Atlanta, Georgia, is an online small business lender.

BLG represented Qwave with a team led by Michael Waters that included Michelle Wilkinson, Yaniv Saragosti, Pascal de Guise and Tommy Tremblay.