OneFi Technology heralds plans for $20 million direct equity financing

Offering planned with Fahad al-Malik has $2 million initial commitment

By Devika Patel

Knoxville, Tenn., Dec. 6 - OneFi Technology Inc. said it plans a direct equity financing with Fahad al-Malik of Saudi Arabia. The company will raise $20 million.

The definitive terms of the financing are still being negotiated. The $2 million initial funding is expected to close just after Jan. 1, with the balance to be invested over a period of one year beginning in the second half of 2011.

OneFi Technology is a Los Angeles-based communications company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.