Selectica raises $6.4M in a private placement

theflyonthewall.com

Selectica announced that it has completed a private placement transaction with certain institutional funds and accredited investors for approximately $6.4M, to be received in two tranches. The first tranche of approximately $5.7M closed on May 31, 2013. The second tranche is expected to close upon stockholder approval of the transaction at the Company's annual stockholder meeting anticipated to be held in September 2013.

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