ROO Completes Private Equity Financing

Aug 30, 2005

ROO Group Inc., an Online Broadcast Network, has announced it has successfully completed a private equity financing for total gross proceeds of $5.75 million dollars. $3.4 million of the proceeds were used to pay off and satisfy in full the company's convertible debt obligations. The company has announced that it will complete a 1 for 50 reverse stock split of its common stock. The financing was completed by Burnham Hill Partners, a division of Pali Capital, Inc. and Brimberg and Co.