Jones Soda to raise $30 million through share sell-off
June 02, 2006
by Eric Schroeder
SEATTLE — Jones Soda Co. on Friday into a definitive agreement with institutional investors for approximately $30 million in private placement financing. As part of the agreement, 3,157,895 shares of Jones Soda common stock will be sold at $9.50 per share.
The company expects the transaction to close on or before June 16.
"We are pleased with the successful and quick execution of this equity financing," said Peter van Stolk, chief executive officer and president of Jones Soda. "This financing will provide us with additional funding to accelerate our key corporate initiatives in North America and abroad."