New Issue: nFinanSe raises $10.92 million from placement of shares, preferreds

By Devika Patel

Knoxville, Tenn., June 16 - nFinanSe Inc. raised $10.92 million in a private placement of common stock and preferred stock on June 12, according to an 8-K disclosing details of the offering that was filed Monday with the Securities and Exchange Commission. The size was previously announced as $10.71 million.

The company sold 1.42 million common shares and 4,037,500 series C convertible preferred shares at $2.00 apiece. It received $2.84 million for the common shares and $8,075,000 for the preferreds.

Investors received warrants for 2,728,750 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, preferred stock
Amount:	$10,915,000
Price:	$2.00
Warrants:	For 2,728,750 shares
Warrant strike price:	$2.30
Agent:	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:	$2.84 million
Shares:	1.42 million
Preferred stock
Amount:	$8,075,000
Shares:	4,037,500

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