New Issue: nFinanSe raises $10.87 million through private placement of preferreds

By Devika Patel

Knoxville, Tenn., Aug. 26 - nFinanSe Inc. completed a $10.87 million private placement of preferred stock on Aug. 21, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

The company sold 3,623,038 series D convertible preferred shares.

Investors received warrants for 36,230,380 shares, which are exercisable at $0.01 for five years.

Emerging Growth Equities, Ltd. was the agent.

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

Issuer:	nFinanSe Inc.
Issue:	Series D convertible preferred stock
Amount:	$10,869,113
Shares:	3,623,038
Warrants:	For 36,230,380 shares
Warrant expiration:	Five years
Warrant strike price:	$0.01
Agent:	Emerging Growth Equities, Ltd.
Settlement date:	Aug. 21
Stock symbol:	OTCBB: NFSE
Stock price:	$0.36 at close Aug. 21
Market capitalization:	$3.63 million

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