Metro One (INFO) Announces $2.2M Private Placement
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Metro One Telecommunications, Inc. (Nasdaq: INFO) announced the sale of $2.2 million of Series A convertible preferred stock and warrants to purchase Series A convertible preferred stock in a private placement with two of its largest shareholders, Columbia Ventures Corporation and Everest Special Situations Fund L.P.
The sale of the preferred stock and warrants is the initial part of a financing that may ultimately result in the issuance of an aggregate of up to $10 million of the Company's Series A preferred stock and preferred stock warrants.
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