By Sheri Kasprzak
Atlanta, March 4 - Houseraising Inc. said it has received an equity line of credit for up to $12 million.
The company obtained the line from Dutchess Private Equities Fund II LP.
Houseraising may sell stock at its discretion to Dutchess at a price equal to 95% of the lowest closing bid price five trading days after notice over the next 36 months.
U.S. Euro Securities Inc. was the placement agent in the deal.
Based in Charlotte, N.C., Houseraising designs, constructs and sells home.
| Issuer: | Houseraising Inc.
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| Issue: | Equity line of credit
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| Amount: | $12 million (maximum)
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| Price: | 95% of the lowest closing bid price five days after notice
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| Tenor: | 36 months
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| Warrants: | No
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| Investors: | Dutchess Private Equities Fund II LP
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| Placement agent: | U.S. Euro Securities Inc.
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| Settlement date: | Feb. 25
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| Stock price: | $1.45 at close Feb. 25
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