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Article: SPESCOM SOFTWARE COMPLETES $2.2 MILLION PRIVATE PLACEMENT.
- Article from:
- PR Newswire
- Article date:
- November 11, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. 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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Funding will Accelerate Expansion of Sales and Marketing Activities to Capitalize on New Market Opportunities
Spescom Software Inc. (BULLETIN BOARD: SPCO) , a leading developer of enterprise content and configuration management solutions, announced today that it has completed a private placement with Mercator Advisory Group, LLC, and Monarch Pointe Fund, Ltd., to raise a total of $2.2 million in new financing. The announcement was made by Spescom Chief Executive Officer Carl Mostert.
Under the terms of the financing, the Company issued 2,200 shares of convertible preferred stock, and warrants, which expire November 5, 2007, to purchase 2.75 million ...