FinancialContent Completes $1 Million Private Placement

Jan 06, 2004

FinancialContent, Inc., a provider of financial data and business applications to online media and financial services companies, has announced the completion of a $1 million private placement. FinancialContent, Inc. issued 1,333,333 shares of its Series C convertible preferred stock to over twenty non-affiliated accredited investors based in the United States. The shares of the Series C stock are convertible on a one-to-one basis into shares of the company's common stock. The Series C stock and the common stock issuable thereunder upon conversion have piggy-back registration rights and no demand registration rights. The company did not incur any referral fees related to the private placement. The proceeds from the private placement have been earmarked immediately to retire long-term debt and to fund the company's future growth. FinancialContent, Inc. is a content solution provider offering a suite of financial data deployable through an interactive online platform. FinancialContent's flagship product is Studio 3.5.