By Sheri Kasprzak
New York, Feb. 21 - AdStar, Inc. said it has settled a private placement for $1.65 million.
The company sold 1 million shares to one institutional investor.
Capstone Investments was the placement agent.
Proceeds will be used to accelerate the company's third-party marketing initiatives.
Based in Marina del Rey, Calif., AdStar provides e-commerce transaction software for the advertising and publishing sectors.
| Issuer: | AdStar, Inc.
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| Issue: | Stock
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| Amount: | $1.65 million
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| Shares: | 1 million
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| Price: | $1.65
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| Warrants: | No
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| Placement agent: | Capstone Investments
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| Settlement date: | Feb. 17
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| Stock symbol: | Nasdaq: ADST
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| Stock price: | $2.25 at close Feb. 17
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