Published on 4/4/2008 in the Prospect News PIPE Daily.
New Issue: Debt Resolve sells $7 million of shares in private placement
By Devika Patel
Knoxville, Tenn., April 4 - Debt Resolve, Inc. raised $7 million from a private placement of stock and warrants on March 31, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 2,966,102 common shares at $2.36 per share to Harmonie International LLC. Harmonie also received a 10-year warrant for 3,707,627 shares, exercisable at $2.36.
Debt Resolve is a software company based in White Plains, N.Y.
| Issuer: | Debt Resolve, Inc.
|
| Issue: | Common stock, warrants
|
| Amount: | $7 million
|
| Units: | 2,966,102
|
| Price: | $2.36
|
| Warrants: | For 3,707,627 shares
|
| Warrant expiration: | 10 years
|
| Warrant strike price: | $2.36
|
| Investor: | Harmonie International LLC
|
| Settlement date: | March 31
|
| Stock symbol: | Amex: DRV
|
| Stock price: | $2.38 at close March 31
|
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