Morlex plans to raise $5 million through placement of convertibles, stock

New York, Feb. 14 - Morlex, Inc. said it plans to raise $5 million through a private placement of junior convertible unsecured promissory notes and a private placement of common stock.

Proceeds will be used for cash needs related to recent merger and acquisition transactions and to provide working capital, according to an 8-K filing with the Securities and Exchange Commission.

Morlex, based in New York, recently acquired RightSide Holdings, Inc., Duncan Media Group, Inc. and All Ad Acquisition, Inc.

It is now an "internet-focused customer acquisition company" with multiple revenue streams from pay-per-click, list rental, subscription and general advertising. It owns more than 1,000 domains with approximately one million unique visitors per month.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.