Liberated Syndication Inc. (OTCPK:LSYN) acquired pair Networks, Inc. from Kevin Martin for $16.1 million on December 27, 2017. As per the consideration, Liberated Syndication paid $13.5 million in cash and issued 1.58 million shares of restricted common stock. Under the terms, $1 million of the consideration is placed into an escrow account to serve as security for the indemnification obligations of Kevin Martin. In order to finance the transaction, Liberated Syndication borrowed $2 million under a newly established senior secured credit facility and $8 million as a term loan from Webmayhem, INC. Capital Foundry, LLC acted as financial advisor for Liberated Syndication and arranger for the bank facility. David Gitlin of Royer Cooper Cohen Braunfeld LLC acted as a legal advisor to Kevin Martin. David Kalson of Cohen & Grigsby P.C. acted as a legal advisor to Liberated Syndication Inc. Fairmount Partners LP acted as the financial advisor in the transaction. Liberated Syndication Inc. (OTCPK:LSYN) completed the acquisition of pair Networks, Inc. from Kevin Martin on December 27, 2017.