nFinanSe Inc: Key Developments
nFinanSe Inc. Raises $12.2 Million In Equity Transactions
September 1, 2009 |
| nFinanSe Inc. announced that it has completed aggregate equity offerings totaling $12.2 million through the $6.5 million sale of approximately 2.2 million shares of its Series D Convertible Preferred Stock and through the exchange of $5.7 million of notes and accrued interest for approximately 1.9 million shares of Series D Convertible Preferred Stock. Each share of the Series D Convertible Preferred Stock is convertible into ten shares of the Company`s common stock at $0.30 per share. Each investor received warrants to purchase 10 shares of common stock at $0.01 per share for each share of Series D Convertible Preferred Stock. |
nFinanSe Inc. And Coinstar, Inc. Sign Distribution Agreement
August 13, 2009 |
| nFinanSe Inc. announced that it has signed an agreement with Coinstar E-Payment Services Inc., a subsidiary of Coinstar, Inc., to distribute nFinanSe's Reloadable Prepaid and Gift Cards to Coinstar's Pay as You Go Solution found at retailers nationwide. |
nFinanSe Inc Raises $10.7 Million in Private Securities Sale And Closes $15.5 Million Credit Line-MNP
June 13, 2008 |
| Market News Publishing reported that nFinanSe Inc raised $10.7 million through the issuance of 1,417,500 shares of its common stock, 3,937,500 shares of its Series C Convertible Preferred Stock and warrants to purchase 2,677,500 shares of its common stock. This amount includes the exchange of approximately 1,120,000 shares of common stock and 560,000 warrants purchased in March 2008 and May 2008 for $2.8 million, or $2.50 per share. Each share of the Series C Convertible Preferred Stock is convertible into one share of the Company's common stock. Both the Series C Convertible Preferred Stock and the common stock were sold at the purchase price of $2.00 per share. The warrants entitle holders to purchase shares of common stock at an exercise price of $2.30 per share. In addition, the Company has closed on its previously announced $15.5 million accounts receivable line of credit with certain institutional investors and shareholders of the Company, including Ballyshannon Partners, LP, an affiliate of one of its directors. This line of credit will be used solely to support the Company's Reloadable Prepaid Cards and Gift Cards at retail store locations. |
nFinanSe Inc Executes Letter Of Intent For $15 Million Credit Facility-MNP
May 28, 2008 |
| Market News Publishing reported that nFinanSe Inc has executed a non-binding letter of intent providing the Company with a $15 million line of credit from certain institutional investors and shareholders of the Company, including Ballyshannon Partners, LP, an affiliate of one of its directors. This line of credit will support the Company's objective of offering nFinanSe Reloadable Prepaid and Gift Cards in 30,000 retail locations by year end. |
Behlen Mfg. Co. Selects nFinanSe Inc To Deliver Pay Card Program
February 6, 2008 |
| nFinanSe Inc announced that Behlen Mfg. Co, has signed an agreement with nFinanSe whereby nFinanSe will provide pay cards to Behlen Mfg. Co. employees nationwide. |
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