Published on 5/26/2009 in the Prospect News PIPE Daily.
New Issue: Terremark gets $20 million from private placement of stock to VMware
By Susanna Moon
Chicago, May 26 - Terremark Worldwide, Inc. said it will sell a $20 million equity stake to VMware, Inc.
Under the agreement, VMware will purchase 4 million Terremark common shares at $5.00 per share for a 5% stake in the company in a fully diluted basis.
Terremark is a Miami-based operator of internet and telecommunications infrastructure.
| Issuer: | Terremark Worldwide, Inc.
|
| Issue: | Stock
|
| Amount: | $20 million
|
| Shares: | 4 million
|
| Price: | $5.00
|
| Warrants: | No
|
| Pricing date: | May 26
|
| Stock symbol: | Nasdaq:TMRK
|
| Stock price: | $4.47 at close May 22
|
| Market capitalization: | $286.45 million
|
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