24/7 Wall St.
06-17-2008, 09:11 AM
24/7 Wall St. Daily News
Answers Corporation (NASDAQ:ANSW) has entered into agreements for a private placement to raise cash up to $13 million via the sale of convertible preferred stock and warrants to Redpoint Ventures. Thomas Weisel Partners LLC acted as lead-placement agent and Canaccord Adams acted as co-placement agent for the offering. The transaction was listed as yesterday and consisted of $6 million of series A convertible preferred stock, convertible into 1,333,333 shares of common stock at a conversion price of $4.50 per share, with 50% warrant coverage at an exercise price of $4.95. Redpoint was also issued a second tranche warrant, exercisable over...http://feeds.feedburner.com/~f/typepad/RyNm?i=y3pxCI</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=y3pxCI) http://feeds.feedburner.com/~f/typepad/RyNm?i=eaKHRI</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=eaKHRI) http://feeds.feedburner.com/~f/typepad/RyNm?i=8PMnJi</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=8PMnJi)
complete story here... (http://www.247wallst.com/2008/06/answers-raises.html)
Answers Corporation (NASDAQ:ANSW) has entered into agreements for a private placement to raise cash up to $13 million via the sale of convertible preferred stock and warrants to Redpoint Ventures. Thomas Weisel Partners LLC acted as lead-placement agent and Canaccord Adams acted as co-placement agent for the offering. The transaction was listed as yesterday and consisted of $6 million of series A convertible preferred stock, convertible into 1,333,333 shares of common stock at a conversion price of $4.50 per share, with 50% warrant coverage at an exercise price of $4.95. Redpoint was also issued a second tranche warrant, exercisable over...http://feeds.feedburner.com/~f/typepad/RyNm?i=y3pxCI</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=y3pxCI) http://feeds.feedburner.com/~f/typepad/RyNm?i=eaKHRI</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=eaKHRI) http://feeds.feedburner.com/~f/typepad/RyNm?i=8PMnJi</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=8PMnJi)
complete story here... (http://www.247wallst.com/2008/06/answers-raises.html)