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Article: WallStreetGrapevine.com "Spotlight" Alert -RNVO, OVTI, ADCT.
- Article from:
- M2 Presswire
- Article date:
- December 1, 2004
CopyrightCOPYRIGHT 2004 Normans Media Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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M2 PRESSWIRE-1 December 2004-WallStreetGrapevine: WallStreetGrapevine.com "Spotlight" Alert -RNVO, OVTI, ADCT(C)1994-2004 M2 COMMUNICATIONS LTD
RDATE:12012004
Renovo Holdings (OTCBB:RNVO - News) announced that the Company recently received the first cash distribution under terms of the $5 million Standby Equity Distribution Agreement (SEDA) between the Company and Cornell Capital Partners, L.P.
Under the SEDA, Cornell has committed to provide up to $5 million of funding to be drawn down at Renovo's discretion by the purchase of the Company's common stock. The Company may request an advance under terms of the agreement during any six-day period ...
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