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Net Element plans $50 million at-the-market sales through agent Revere
Agent will receive 5% commission; deal funds general corporate purposes
By Devika Patel
Knoxville, Tenn., Jan. 28 – Net Element Inc. arranged a $50 million at-the-market offering with Revere Securities, LLC, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.
Revere will be paid a 5% commission.
Proceeds will be used for general corporate purposes, including working capital, sales and marketing, general and administrative expenses, debt repayment, capital expenditures, acquisitions or investments.
Net Element is a Miami-based online media and technology company.
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