Decorize nets $1.1M in private stock sale to support growth
By Furniture Today Staff -- Furniture Today, January 19, 2003
Springfield, Mo. — Accessories and furniture importer Decorize said last week it raised $1.1 million in a private placement of stock with institutional investors.
Investors bought 785,714 shares at $1.40 per share and received warrants to purchase an additional 785,714 shares at an initial exercise price of $2.80.
Proceeds are expected to be used to support growth by hiring personnel and investing in technology. Jon Baker, chief executive officer, said there has been strong demand for product from retailers and that the added capital will remove a constraint to growth.
The company offers more than 10,000 SKUs through its brands Faith Walk, Guildmaster and decorize.com.
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