By Devika Patel
Knoxville, Tenn., Aug. 22 - Remote Knowledge, Inc. said it completed a $4.8 million private placement of convertible notes.
This financing was provided by a group of investors lead by Muragai, LLC and its affiliated company SLW International, LLC.
Proceeds will be used to refinance existing debt and finance continued operations, including the testing and manufacturing of the company's new marine communication equipment and the construction of the applicable network.
Based in Houston, Remote Knowledge is a developer and provider of satellite-based high-speed internet, voice, video, data-management and mobile marketing applications.
| Issuer: | Remote Knowledge, Inc.
|
| Issue: | Convertible notes
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| Amount: | $4.8 million
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| Warrants: | No
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| Investors: | Muragai, LLC, SLW International, LLC (leads)
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| Settlement date: | Aug. 22
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| Stock symbol: | Pink Sheets: RKNW
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| Stock price: | $0.06 at close Aug. 21
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