New Issue: nFinanSe aims to raise $1 million through private placement of notes with warrants

By Devika Patel

Knoxville, Tenn., May 13 - nFinanSe Inc. arranged a $1 million private placement of 10% notes due July 31, 2009, according to an 8-K filed Wednesday with the Securities and Exchange Commission. It sold $300,000 of the notes on May 7.

Odyssey Capital Group, LP, Ballyshannon Partners, LP and Lancaster Investment Partners, LP each bought $100,000 in notes.

Investors also will receive warrants for 250,000 shares, which are exercisable at $1.00 for one year.

Based in Bradenton, Fla., nFinanSe is a financial services company and provides stored value and prepaid cards.

Issuer:	nFinanSe Inc.
Issue:	Notes
Amount:	$1 million
Maturity:	July 31, 2009
Coupon:	10%
Price:	Par
Yield:	10%
Warrants:	For 250,000 shares
Warrant expiration:	One year
Warrant strike price:	$1.00
Investors:	Odyssey Capital Group, LP (for $100,000), Ballyshannon Partners, LP (for $100,000) and Lancaster Investment Partners, LP (for $100,000)
Announcement date:	May 13
Settlement date:	May 7 (for $300,000)
Stock symbol:	OTCBB: NFSE
Stock price:	$0.77 at close May 13
Market capitalization:	$7.19 million

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