Angel Telecom Corp. (OTCPK:AGLT) announced a private placement for gross proceeds of $6,000,000 on December 21, 2011. The funding involved the participation of group of private investors.

On same day the company raised the funding.

On August 14, 2012, Angel Telecom Corp. closed the transaction. The company raised gross proceeds of $12,000,000 in the transaction. The company raised $6,000,000 in the final tranche of the transaction. Investor from the Sultanate of Oman invested seven-figure amount on the transaction.