Remote Knowledge arranges $10 million convertible loan

By Devika Patel

Knoxville, Tenn., May 8 - Remote Knowledge, Inc. said it has negotiated a $10 million senior secured convertible loan with Muragai, LLC.

The loan will be senior to any existing or future loans, debt or liability and will be secured by a first-priority pledge of any and all current or future Remote Knowledge assets.

The company said it expects to close the transaction before the end of the second quarter of 2008.

Proceeds will be used by Remote Knowledge to further its business strategy of developing and marketing proprietary communications and data-management products for the marine industry.

Based in Houston, Remote Knowledge is a developer and provider of satellite-based high-speed internet, voice, video, data-management and mobile marketing applications.

© 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.