Knobias terminates $10 million equity line

By Sheri Kasprzak

Atlanta, April 12 - Knobias Inc. said it has cancelled its $10 million equity line from Cornell Capital Partners.

"Knobias sought the termination of the [standby equity distribution agreement] as a part of Knobias's efforts to obtain more favorable, long-term financing for its future needs," the company's chief executive officer, Key Ramsey, said in a statement released Tuesday. "Knobias appreciates the participation of Cornell in its previous financing."

On Nov. 15, Knobias entered into the agreement with Cornell, which allowed the company to sell shares at its discretion to Cornell at 98% of its lowest volume weighted average price on the over-the-counter bulletin board for five consecutive trading days.

Newbridge Securities Corp. had been the placement agent in the transaction.

Based in Ridgeland, Miss., Knobias provides research on publicly traded companies.

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