Answers Corp. (ANSW) Announces Private Placement with Redpoint for Up to $13M
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Answers Corporation (NASDAQ: ANSW) today announced that it has entered into definitive agreements for the private placement of up to $13 million of convertible preferred stock and warrants to Redpoint Ventures.
Answers' CFO, Steven Steinberg, said, "The proceeds from the investment will be used to strengthen our balance sheet."
Answers Corporation, together with its subsidiary, GuruNet Israel, Ltd., operates as an online answer engine.
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