Provider of voice-based solutions for logistics looks to expand sales and marketing forces
Princeton, NJ — May 12, 2004 — Voxware, a supplier of voice-based solutions for logistics, has entered into definitive agreements with investors in connection with a private placement of the company's Series D preferred stock, raising gross proceeds of approximately $2 million.
The proceeds of the financing are expected to be used for general corporate purposes, including working capital and expansion of Voxware's sales and marketing force.
Voxware has agreed to sell an aggregate of 136,730,000 shares of Series D preferred stock at an aggregate purchase price of $2,050,950.
The Series D preferred stock has a 7 percent dividend payable in cash or equity and will be convertible into Voxware common stock at an initial conversion ratio of one share of common stock for each share of Series D preferred stock.
