View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
October 10, 1991


By CBR Staff Writer

Imnet Inc, Pine Brook, New Jersey, which lost $2.6m on sales of just $359,000 last quarter – full figures, see Company Results, below – has agreement in principle for $5.75m of new financing to back its personal computer-based document imaging system development and marketing. An investor group organised by Concourse Capital Corp of Atlanta has committed to a $2.75m bridge loan plus $3m in equity financing. The bridge loan will convert to $2.75m of preferred stock following amendment of Imnet’scertificate of incorporation and Imnet expects to close the bridge loan by the end of October with sale of the additional $3m of preferred stock expected to be completed in the first quarter of 1992. The preferred stock will be convertible into 51% of the common stock of Imnet and in the interim will get to elect four of the seven directors.

Content from our partners
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester
Infosecurity Europe 2024: Rethink the power of infosecurity

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.