Phoenix Network Inc, San Francisco operator of long distance value-added telecommunications services for small and medium-sized companies, has closed a Series D Preferred Stock offering, raising an additional $1m in gross proceeds from investors. It says that over the last 12 months, it has raised over $2.5m in a series of preferred stock offerings to […]
Phoenix Network Inc, San Francisco operator of long distance value-added telecommunications services for small and medium-sized companies, has closed a Series D Preferred Stock offering, raising an additional $1m in gross proceeds from investors. It says that over the last 12 months, it has raised over $2.5m in a series of preferred stock offerings to institutional and private investors and needs the funds to satisfy increasing carrier credit requirements, due to increasing revenues, and to expand its national marketing efforts. It says it has also secured a $1.5m commercial line of credit with an unidentified Colorado banking institution.
