By Sheri Kasprzak
New York, Dec. 13 - Kintera, Inc. is gearing up to close a $5 million private placement of stock with a group of institutional investors.
The investors agreed to buy 4 million shares at $1.25 each.
The offering also includes warrants for 1.2 million shares, exercisable at $1.60 each for five years.
The deal is set to close soon.
Roth Capital Partners, LLC is the placement agent.
Proceeds will be used for general corporate purposes.
San Diego-based Kintera provides software to the nonprofit sector.
| Issuer: | Kintera, Inc.
|
| Issue: | Stock
|
| Amount: | $5 million
|
| Shares: | 4 million
|
| Price: | $1.25
|
| Warrants: | For 1.2 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.60
|
| Placement agent: | Roth Capital Partners, LLC
|
| Announcement date: | Dec. 13
|
| Stock symbol: | Nasdaq: KNTA
|
| Stock price: | $1.30 at close Dec. 12
|
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