Och-Ziff in $75 Million Pay By Touch Secured Notes Purchase
September 19, 2005
Cleary Gottlieb represented Och-Ziff as lead investor in the purchase of $75 million of senior secured notes of Solidus Networks, Inc., d/b/a Pay By Touch, a biometric touch-payment software provider. In addition to the notes, the investor group received warrants representing 8% of the company’s common shares on a fully diluted basis.
Pay By Touch develops and markets payment processing services and products, including biometric payment devices and solutions for online payment systems. The company’s customers include retailers Albertson’s, SuperValu and Piggly Wiggly.