AfterDawn: Tech news

CenterSpan secures $5.4M investment

Written by Petteri Pyyny (Google+) @ 18 Jun 2001 14:27

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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