Proceeds used to ramp up marketing program and expand into new areas
By Devika Patel
Knoxville, Tenn., Oct. 5 - netTALK.com, Inc. said it will sell up to $5 million of 10% senior secured debentures in a private placement. It has already raised $3.5 million.
"We are in the midst an exciting expansion phase and are pleased to continue to partner with enthusiastic investors who are supporting our growth," president and chief executive officer Anastasios Kyriakides said in a press release.
"This additional capital of up to $5 million should help us continue to ramp up our marketing program and expand into new areas per our product launch roadmap."
Based in Miami, Fla., netTALK.com provides voice-over-internet protocol products and services.
| Issuer: | netTALK.com, Inc.
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| Issue: | Senior secured debentures
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| Amount: | $5 million
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| Coupon: | 10%
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| Warrants: | No
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| Settlement date: | Oct. 5 (for $3.5 million)
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| Stock symbol: | OTCBB: NTLK
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| Stock price: | $0.53 at close Oct. 4
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| Market capitalization: | $19.64 million
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