Numerex Corp. has closed on a $10 million round of financing
Numerex Corp. has closed on a $10 million round of financing from the Laurus Master Fund Ltd.
Atlanta-based Numerex (NASDAQ: NMRX) said it will use the funding for general corporate purposes, including possible strategic initiatives. The funding includes a $5 million convertible term note and a $5 million nonconvertible term note. Both notes bear a fixed interest rate of 9.75 percent, have a four-year term and are secured by Numerex’s assets.