By Sheri Kasprzak
Atlanta, Nov. 30 - Kintera Inc. said Tuesday it has raised $17.5 million in a private placement.
The company sold 2.5 million shares at $7 each to institutional investors.
The deal is scheduled to close Dec. 6.
Kintera is a San Diego-based software provider for nonprofit organizations. The company plans to use the proceeds from the deal for general corporate purposes, including its pending acquisition of American Fundware Inc. from Intuit Inc.
| Issuer: | Kintera Inc.
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| Issue: | Stock
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| Amount: | $17.5 million
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| Shares: | 2.5 million
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| Price: | $7
|
| Warrants: | No
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| Announcement date: | Nov. 30
|
| Settlement date: | Dec. 6
|
| Stock price: | $9.05 at close Nov. 29
|
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