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Article: U.S. Helicopter Announces $4,500,000 in Financings With Cornell Capital Partners and Commencement of Service at New York City's East 34th Street Heliport.
- Article from:
- PR Newswire
- Article date:
- November 15, 2006
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NEW YORK, Nov. 15 /PRNewswire-FirstCall/ -- U.S. Helicopter Corporation (BULLETIN BOARD: USHP) (the "Company") announced today the completion of a series of financings with Cornell Capital Partners, LP ("Cornell Capital") resulting in the receipt of $4,500,000 in gross offering proceeds. These funds are comprised of $1,750,000 in warrant exercise proceeds, a result of Cornell Capital's exercise of 2,500,000 warrants at $0.70 per share and the sale of $2.750 million in capital pursuant to a convertible subordinated debenture financing (the "$2,750,000 Debenture"). Funding of the $2,750,000 Debenture will occur on or before November 30, 2006.
In connection ...
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