Search the archive: |
| | |
Alanco Technologies has announced new financing totalling US$2.5 million, comprising US$2.0 million of additional equity from the sale of non-convertible Series D Preferred Stock, and a US$0.5 million increase in the company's current credit line. Company directors and officers will be the primary investors in the new financing, expected to be completed today. Some US$1.4 million of the proceeds will be used to pay down a term note with a current balance of approximately US$2.4 million, with the remaining US$1.1 million being used to provide additional working capital.
Source: Alanco Technologies Inc.
|
|
|
