New Issue: nFinanSe raises $10.71 million from placement of shares, preferreds

By Devika Patel

Knoxville, Tenn., June 12 - nFinanSe Inc. said it completed a $10.71 million private placement of common stock and preferred stock. The company also said it completed a $15.5 million line of credit.

The company sold 1,417,500 common shares and 3,937,500 series C convertible preferred shares at $2.00 apiece.

Investors received warrants for 2,677,500 shares, which are exercisable at $2.30.

Collins Stewart LLC and Emerging Growth Equities, Ltd. were the agents.

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

Issuer:	nFinanSe Inc.
Issue:	Common stock, convertible preferred stock
Amount:	$10.71 million
Price:	$2.00
Warrants:	For 2,677,500 shares
Warrant strike price:	$2.30
Agents:	Collins Stewart LLC and Emerging Growth Equities, Ltd.
Settlement date:	June 12
Stock symbol:	OTCBB: NFSE
Stock price:	$2.40 at close June 11
Common stock
Amount:	$2,835,000
Shares:	1,417,500
Convertible preferred stock
Amount:	$7,875,000
Shares:	3,937,500

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