By Sheri Kasprzak
Atlanta, Feb. 10 - LitFunding Corp. said it raised $10 million in an equity line from Dutchess Private Equities Fund II LP.
The company may sell shares to Dutchess at a 4% discount to market price over the course of 36 months.
Based in Las Vegas, LitFunding is a wholly owned subsidiary of LitFunding USA. It provides funding for litigation through plaintiff's attorneys.
| Issuer: | LitFunding Corp.
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| Issue: | Equity line
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| Amount: | $10 million
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| Tenor: | 36 months
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| Price: | 4% discount to market
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| Warrants: | No
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| Investor: | Dutchess Private Equities Fund II LP
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| Settlement date: | Feb. 10
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| Stock price: | $0.56 at close Feb. 10
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