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ROI receives $5.5 million in private placement of notes
By Sheri Kasprzak
Atlanta, Jan. 12 - Return On Investment Corp. has completed a $5.5 million private placement of a convertible revolving note and a convertible term note.
Laurus Master Fund Ltd. bought the notes.
The balance of the revolving note and the principal of the term note are convertible into common shares at $2.11 each.
The notes mature in three years.
Laurus received warrants for 750,000 shares at $2.36 each.
Additional details about the deal could not be obtained from the company's managers Wednesday.
Based in Kennesaw, Ga., Return on Investment is a holding company for a software-distributing company and a construction information company. The proceeds from the offering will be used for working capital.
On Wednesday, the company's stock closed down $0.10 at $1.75.
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