By Sheri Kasprzak
New York, June 12 - iLinc Communications, Inc. settled a $2 million private placement.
The company issued 5.4 million shares to two institutional investors. The exact price per share could not be determined by press time Monday.
Canaccord Adams Inc. was the placement agent.
Proceeds will be used for working capital, as well as for research and development.
iLinc, based in Phoenix, develops integrated web- and audio-conferencing products and services.
| Issuer: | iLinc Communications, Inc.
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| Issue: | Stock
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| Amount: | $2 million
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| Shares: | 5.4 million
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| Warrants: | No
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| Placement agent: | Canaccord Adams Inc.
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| Settlement date: | June 12
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| Stock symbol: | Amex: ILC
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| Stock price: | $0.47 at close June 12
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