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Act Teleconferencing Fails To Close Financing |
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Conference Calling Section -
Conference Calling Category
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Sunday, 20 February 2005 |
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Denver, CO - ACT Teleconferencing (Nasdaq: ACTT), an independent provider of audio, video and web-based conferencing products and services, failed to complete a planned round of $14 million in institutional capital, according to the Denver Business Journal.ACT CEO Gene Warren said "that taking the financing terms as they evolved following the initial proposal would not have been in the best interests of the company or its shareholders."
ACT was to use $12 million to retire outstanding long-term debt and will continue to seek additional financing to achieve that goal. |
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