By Devika Patel
Knoxville, Tenn., July 9 - nFinanSe Inc. priced a $5 million private placement of series E convertible preferred stock on June 29, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company is selling the preferreds at $1.50 apiece. Each preferred is convertible into common shares at $0.15 per common share.
Based in Bradenton, Fla., nFinanSe is a financial services company and provides stored value and prepaid cards.
Issuer: | nFinanSe Inc.
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Issue: | Series E convertible preferred stock
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Amount: | $5 million
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Price: | $1.50
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Conversion price: | $0.15
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Warrants: | No
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Settlement date: | June 29
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Stock symbol: | OTCBB: NFSE
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Stock price: | $0.10 at close June 29
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Market capitalization: | $2.12 million
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