Intelligentias, Inc. (ITLI.OB) Secures $3.0 Million Financing with Proceeds Used to Complete Acquisition
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…