Modern Technology raises $1.5 million from convertible note offering

By Sheri Kasprzak

New York, Sept. 1 - Modern Technology Corp. said it has completed a convertible note financing for $1.5 million.

The 9% senior secured convertible notes were issued to four institutional investors.

The full details of the offering could not be determined by press time Thursday.

Modern Technology, based in Oxford, Miss., acquires and develops emerging technology companies. The company plans to use the proceeds to complete its acquisition of InMarketing Group. The remainder will be used for expansion capital.

On Thursday, the company's stock dipped $0.005, or 13.89%, to close at $0.031.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.