LONDON-CellPoint Inc. announced it closed a $10 million financing agreement with Castle Creek Technology Partners, an investment company focusing on high-growth technology firms.
The financing is in convertible notes, which are due Sept. 30, 2002, and can be converted into shares at $25 per share within six months.
“This transaction puts the company in a strong position to advance its business objectives going forward into next year,” said Peter Henricsson, CellPoint’s chairman and chief executive officer.
Wall Street seemed to react favorably to the announcement-CellPoint’s stock rose 3.14 percent to $10.25 a share.
