WhittmanHart raises $5 million in private placement of notes

By Sheri Kasprzak

Atlanta, March 23 - WhittmanHart Inc. said it has raised $5 million in a private placement of senior secured notes.

The notes were sold to Technology Investment Capital Corp.

Technology Investment has also agreed to buy an additional $7 million in notes as WhittmanHart achieves certain milestones.

The details on the offering could not obtained by press time Wednesday.

Separately, Technology Investment Capital bought $500,000 in convertible preferred stock from WhittmanHart.

UBS Investment Bank was the placement agent in the deal.

Based in Greenwich, Conn., WhittmanHart is a consulting company focused on the digital communications industry.

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