LoopNet Raises $50 Million PIPE
LoopNet Inc. (Nasdaq: LOOP) has agreed to sell $50 million in convertible preferred stock to Calera Capital and existing backers Trinity Ventures and Rustic Canyon Partners. The securities would be convertible into LoopNet common stock at $6.72 per share, or a 10% premium to Friday’s closing price. LoopNet is a San Francisco–based online marketplace for commercial real estate and businesses for sale in the United States.
30 March 2009•4 mins read
