Telatinos raises $20 million in private placement of preferreds

By Sheri Kasprzak

Atlanta, Dec. 1 - Telatinos Inc. said Wednesday it has secured $20 million in a private equity financing.

The investors in the deal will buy class B preferred shares, which include dividends, board seats and stock options.

The deal is expected to be finalized in early 2005, but until that happens, the company will receive a bridge loan.

Based in Miami, Telatinos provides local, long distance and international telephone services to customers in Latin America.

The company plans to use the financing to support a larger sales and support staff for marketing initiatives in Latin America.

On Tuesday, the company's stock closed at $2.65.

© 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.