By Sheri Kasprzak
New York, April 27 - FreeStar Technology Corp. said it has secured $10 million from a private placement of units with Svensk Kredit och Finans AB.
The company intends to sell 25 million units of one share and one warrant at a weighted-average price of $0.40 each.
The warrants are exercisable at prices ranging from $1.50 to $3.00 each for two years.
Dublin, Ireland-based FreeStar develops payment-processing technologies.
| Issuer: | FreeStar Technology Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | $10 million
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| Units: | 25 million
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| Price: | $0.40
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | Between $1.50 and $3.00
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| Investor: | Svensk Kredit och Finans AB
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| Announcement date: | April 27
|
| Stock symbol: | OTCBB: FSRT
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| Stock price: | $0.50 at close April 27
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