|
| Home : Banro Announces US$40 Million Financing |
|
Feb 12
2014 |
Banro Announces US$40 Million Financing |
|
TORONTO, ONTARIO--(Marketwired - Feb. 12, 2014) - Banro Corporation ("Banro" or the "Company") (NYSE MKT:BAA)(TSX:BAA) announces that it intends to raise US$40 million through the issue of convertible preferred shares by way of a non-brokered private placement (the "Private Placement"). The Company has received a non-binding commitment from Gramercy Funds Management LLC ("Gramercy") to subscribe for the full amount of the Private Placement, although certain other investors may participate for up to US$15 million of the Private Placement. The net proceeds of the Private Placement are expected to be used for general corporate purposes, including to repay certain bank loans. |
|
|
|
| Source:http://www.marketwired.com/mw/release.do?id=1878185&sourceType=3 |
| |
|
Related News
|
» Axine Water Technologies Closes $5.6 Million in Series A Funding
» Storm With 100 Mph Gusts Hits Soggy Britain
|
|
|
