Brief: US Dataworks raises $4.65 million

Brief: US Dataworks raises $4.65 million

Payment processor US Dataworks has raised $4.65 million through a private placement.

The company says it issued 2.89 million shares of common stock to "certain major institutional investors". In addition, the firm issued warrants to purchase up to 3.61 million shares of common stock at an exercise price of $1.61 per share.

US Dataworks expects to use the net proceeds for working capital and general corporate purposes.

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