CUPERTINO, Calif.-Portal Software Inc. announced it has completed a $60 million direct offering of approximately 22.6 million shares of its common stock. The shares were sold for $2.65 each, resulting in net proceeds to the company of $56.4 million.
“The completion of this offering gives us the financial strength and flexibility to continue to aggressively execute against our business goals,” said John Little, Portal’s founder and chief executive officer. “This is a tremendous vote of confidence in Portal.”
