Sequiam plans equity financings, hires TerraNova as placement agent

By Devika Patel

Knoxville, Tenn., Feb. 8 - Sequiam Corp. has engaged two companies to help it complete private placements, according to an 8-K filed Friday with the Securities and Exchange Commission.

According to the filing, Sequiam entered into an agreement with M1 Capital Group, Ltd., in which M1 has agreed to provide Sequiam with financial advisory services for a new equity financing.

Sequiam also entered into a placement agent agreement with TerraNova Capital Partners Inc., to arrange the sale of its equity or equity-linked securities, including convertible debt or warrants. The agreement term is for 60 days and will be extended for an additional 45-day period if Sequiam does not terminate the agreement.

In exchange for its for its placement agent services, Sequiam will pay TerraNova 8% of the financing's proceeds in cash and warrants to purchase a number of shares equal to 8% of the shares issued in the financing.

Sequiam, based in Orlando, Fla., develops software and hardware that allows users to acquire and manage information over the internet in a secure environment.

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