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Article: FLO Corporation Announces Completion of $7.1 Million Financing.
- Article from:
- PR Newswire
- Article date:
- May 2, 2008
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CHANTILLY, Va., May 2 /PRNewswire-FirstCall/ -- FLO Corporation (BULLETIN BOARD: FLRP) , a leading Registered Traveler (RT) services provider, today announced that it has entered into agreements to sell an additional $5.5 million in principal of its 12% senior convertible notes in a private placement to accredited investors consisting of new and existing investors. When combined with FLO's initial closing of a private placement of the notes for $1.6 million in principal on April 3, 2008, the aggregate principal amount raised in the note financing is $7.1 million. The notes are convertible by the holders at an initial conversion rate of $0.80 per share, subject to ...