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afterdawn.com > news > centerspan secures $5.4m investment
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CenterSpan secures $5.4M investment

18 June 2001 14:27 by Petteri "dRD" Pyyny

CenterSpan Communications, current owner of once-troubled Scour Exchange P2P software and brand, announced that it has secured $5.4M in equity financing from undisclosed investors. Investors bought company shares for $11.21 each. Investors also have an option to purchase more shares for $18.68 per share within 3 years.

CenterSpan bought Scour's assets after it filed a Chapter 11 bankruptcy in last year after MPAA filed a lawsuit against the company accusing it for copyright violations. CenterSpan launched a legal version of Scour Exchange in this spring, offering legal downloads from various sources, mostly from EMusic.

(source: webnoize)

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Related articles:

  • CenterSpan licenses content from Sony (2 March 2002)
  • CenterSpan acquired Supertracks (24 August 2001)
  • CenterSpan got additional $1M in investments (29 June 2001)
  • Scour Exchange re-opens - legal & web-based this time (29 May 2001)
  • Scour is back -- just legal this time (27 March 2001)
  • CenterSpan wins Scour asset auction (12 December 2000)
  • Scour Exchange closed (16 November 2000)
  • MPAA sues Scour (20 July 2000)
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