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YellowBrix sells $8 million in stock

YellowBrix, a provider of customized content for Web sites, says it has completed its sale of $8 million of Series C preferred stock to Quantum Industrial Partners, a Soros-backed venture fund; ABN AMRO Private Equity; Holland Ventures; and others. The Alexandria, Va.-based company said it also has arranged the conversion of $6.5 million of existing debt into company equity. YellowBrix Chief Executive S. Randy Lampert said the financing should enable the company to manage its growth to profitability this year. The announcement comes shortly after YellowBrix slashed its staff as a part of a restructuring.

    YellowBrix, a provider of customized content for Web sites, says it has completed its sale of $8 million of Series C preferred stock to Quantum Industrial Partners, a Soros-backed venture fund; ABN AMRO Private Equity; Holland Ventures; and others. The Alexandria, Va.-based company said it also has arranged the conversion of $6.5 million of existing debt into company equity.

    YellowBrix Chief Executive S. Randy Lampert said the financing should enable the company to manage its growth to profitability this year. The announcement comes shortly after YellowBrix slashed its staff as a part of a restructuring.