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Short Take: iMALL gets $20 million private placement

Electronic storefront site iMALL has completed a private placement of $20 million for its 9 percent convertible preferred stock and for warrants to purchase its common stock. The company will use proceeds from the private placement to expand sales and marketing efforts, retire debt, and develop its hardware and software products.

Electronic storefront site iMALL has completed a private placement of $20 million for its 9 percent convertible preferred stock and for warrants to purchase its common stock. The company will use proceeds from the private placement to expand sales and marketing efforts, retire debt, and develop its hardware and software products.