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Technology Stocks : SLM Software ESP -- Buy/Build for $ -- PE 4.8 on 1999 ESP
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To: jsabelko who wrote (3)4/22/1999 8:00:00 AM
From: David Michaud   of 14
 
Globe says SLM Software completes private placement

SLM Software Inc ESP
Shares issued 12,938,356 Apr 21 close $7.45
Thu 22 Apr 99 In the News
The Globe and Mail reports in its Thursday edition that SLM Software Inc. has completed a private placement financing with InSight Capital Partners and its affiliates for proceeds of about $30-million. The company said the financing included about $24-million of non-voting convertible preferred debentures, which are convertible into about 3.7 million common shares at $6.50 each; about $6-million of redeemable debentures; and a three-year
warrant for 250,000 common shares at $6.50 each. The company will use proceeds to launch its electronic-commerce network in the United States and to help fuel its growth. SLM Software is a single-source global provider of end-to-end electronic-commerce solutions for financial institutions, health care and retail organizations using open system technologies. At last report, Toronto-based SLM had about 12.9 million shares outstanding.
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