2MAR$ I've followed FECC for quite some time and have been amply rewarded for my patience. It certainly is developing into an Asian Internet powerhouse and too add fuel to the fire look at today's news, Prudential just gave them $30 million.
First Ecom.com Closes $30 Million Private Placement Round
Prudential Volpe Technology Group Agents Funding Round
HONG KONG--(BUSINESS WIRE)--March 6, 2000--First Ecom.com (OTC BB:FECC - news), a global provider of electronic payment processing, today announced it has closed a private funding round totaling $30 million, with Prudential Volpe Technology Group, a unit of Prudential Securities Incorporated, serving as the placement agent.
This new round brings the total amount of private placement funding that First Ecom.com has received to more than $45 million during the past three months.
Gross proceeds of the private placement totaled $30,670,750. The units have not been registered under the Securities Act of 1933, as such securities were offered and sold outside the United States pursuant to an exemption from the registration requirements under Regulation S of the Securities Act.
``As evidenced by this and our most recent series of funding, investor interest in First Ecom.com continues to be strong,' said Greg Pek, president and CEO of First Ecom.com. ``Given our relatively young position in the market, we are pleased to have the support of new investors, and we particularly appreciate the involvement and contributions of the Prudential Volpe Technology Group.'
The securities described above have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from registration requirements.
About First Ecom.com
As a global provider of electronic payment processing, First Ecom.com provides secure, easy-to-implement and low-cost online payment processing services to merchants and banks worldwide.
Through strategic partnerships with banks, ISPs, e-commerce product suppliers, system integrators and storefront solution providers, First Ecom.com processes credit card transactions made over the Internet in multiple currencies, either domestically or offshore in a tax-neutral jurisdiction.
For more information, visit firstecom.com or contact First Ecom.com at +(852) 2801-5181 or by e-mail at merchant@firstecom.com.
Davis.Comm, Inc. (for First Ecom.com)
Jeff Davis, 415/837-3939
jdavis@daviscomm.com
Kevin Manniko, 415/837-3939
kmanniko@daviscomm.com
or
Investor Relations, 888/305-8233 |
