Quepasa Receives $7 Mln In Financing From Investor Groups - Quick Facts

Posted on Tuesday, January 29, 2008 10:33 AM

(RTTNews) - Quepasa (QPSA) announced that it has signed financing deal with Mexican and Americans Trading Together, Inc. and Richard L. Scott Investments, LLC, to offer it with $7 million of working capital. The company noted that as per the terms of the deals, MATT and RLS have loaned $5 million and $2 million, respectively, in exchange for 10 year subordinated promissory notes for the respective amounts. Further along with the promissory notes, the exercise prices for the warrants held by MATT to buy one million shares of Quepasa stock at $12.50 per share and one million shares of Quepasa stock at $15.00 per share have both been reduced to $2.75 per share. For comments and feedback: contact editorial@rttnews.com