Intelligentias, Inc. (ITLI.OB) reports that it closed a $3.0 million financing with Vision Opportunity Master Fund, Ltd.
Under the terms of the financing, Intelligentias issued to Vision a $3.0 million senior secured promissory note maturing on the earlier of June 13, 2008 or, upon receipt of $6.0 million in net proceeds from its next financing, with interest payable at 12% per annum.
The note is not convertible. Intelligentias also issued to Vision a warrant to purchase up to 5,500,000 shares of common stock, exercisable at $2.05 per share, expiring on June 13, 2014. The warrant contains anti-dilution and “piggyback” registration rights provisions.
The proceeds of the financing are being used by Intelligentias to complete the acquisition of Datakom GmbH, a lawful interception and network monitoring company based in Germany.
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