New Issue: nFinanSe wraps $9.07 million sale of stock, convertible preferreds

By Sheri Kasprzak

New York, July 3 - nFinanSe Inc. completed a $9,069,597 private placement of common stock and series B convertible preferred stock.

The company sold 2,023,199 common shares and 1 million shares of series B preferreds. The investors also received warrants for 1,511,600 shares.

Each preferred is convertible into a common share at $3.00 each and the common shares were sold at $3.00 each.

The warrants are exercisable at $5.00 each for five years.

Based in Bradenton, Fla., nFinanSe is a financial services company and provides stored value and prepaid cards.

Issuer:	nFinanSe Inc.
Issue:	Common shares and series B convertible preferred stock
Amount:	$9,069,597
Common shares:	2,023,199
Price:	$3.00
Preferred shares:	1 million
Conversion price:	$3.00
Warrants:	For 1,511,600 shares
Warrant expiration:	Five years
Warrant strike price:	$5.00
Settlement date:	June 29
Stock symbol:	OTCBB: NFSE
Stock price:	$3.40 at close June 29

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