New Issue: Immediatek raises $2.98 million from placement of convertibles

By Sheri Kasprzak

New York, June 9 - Immediatek, Inc. wrapped a $2,986,754 private placement of series A convertible preferred stock.

The company issued to Radical Holdings LP 4,392,286 preferreds at $0.68 each.

The preferreds, which do not pay annual dividends, are convertible into a number of shares equal to 95% of the total voting power of all outstanding common shares after giving effect to the conversion.

Dallas-based Immediatek is an information technology infrastructure company.

Issuer:	Immediatek, Inc.
Issue:	Series A convertible preferred stock
Amount:	$2,986,754
Shares:	4,392,286
Price:	$0.68
Conversion ratio:	Convertible into the number of shares equal to 95% of the total voting power of all of the company's outstanding shares after giving effect to the conversion
Warrants:	No
Investor:	Radical Holdings LP
Settlement date:	June 8
Stock symbol:	OTCBB: IMKIE
Stock price:	$14.00 at close June 8

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