Preferred Commerce, Inc. cancelled the transaction announced on February 23, 2011.
February 22, 2012 at 11:00 pm EST
Preferred Commerce, Inc. announced a round of funding for gross proceeds of $10,000,000 on February 23, 2011. The company will issue 57,500 units at a price of $173.913043 per unit. Each unit consists of one common share and one-half warrant. Newbridge Securities Corp. will serve as the placement agent to the company in connection with this transaction. The company will pay sales commissions of $1,100,000 in connection with this transaction which equals to 10% of proceeds of the transaction and 1% non-accountable expense allowance. The securities will be issued pursuant to Regulation D.
The transaction was cancelled as on February 23, 2012.