GYST - The Graystone Company Announces Completion of Acquisition of Direct Capital via Reverse Merger | Benzinga
PLANTATION, Fla., Sept. 11, 2023 (GLOBE NEWSWIRE) -- via IBN -- The Graystone Company (OTC:GYST) is pleased to announce the successful completion of its acquisition of Direct Capital, a leading mortgage banker and broker, through a reverse merger transaction. The reverse merger transaction was finalized on June 1, 2023, resulting in a significant change of control within the company.
As part of this transaction, Anastasia Shishova resigned from her position as an officer and director of Direct Capital on June 1, 2023, paving the way for a new era of growth and opportunity within the organization.
Direct Capital, through its subsidiary Direct Mortgage, has exhibited remarkable performance in the mortgage industry. In 2022, the company generated revenues totaling $6,324,163. During the same year, they facilitated approximately 450 loans, securing approximately $152 million in funded mortgages.