Viewpoint Corporation Raises $5.1 Million In Private Equity Financing

Viewpoint Corporation announced that it closed a $5.1 million private placement of 5,100,000 shares of common stock, priced at $1.00 per share. The investors in the transaction also will receive warrants to purchase an additional 1,020,000 shares of common stock

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Viewpoint Corporation announced that it closed a $5.1 million private placement of 5,100,000 shares of common stock, priced at $1.00 per share. The investors in the transaction also will receive warrants to purchase an additional 1,020,000 shares of common stock at a price of $1.20 per share and with a term of three years. Merriman Curhan Ford & Co. acted as sole placement agent for this transaction.

Patrick Vogt, CEO of Viewpoint Corporation, commented, “We are excited to have raised capital from some existing and new investors with a long term view of the market. With our continued commitment toward revenue growth and profitability, today’s announcement is a positive reflection on our business strategy and the long-term outlook on the company’s growth potential. These funds give Viewpoint flexibility in a competitive marketplace to ensure a smooth implementation of our recently announced sales and product initiatives, and also provide capital that can be used to pay off our existing indebtedness next year.”

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