St. James Capital wraps $1 million private placement

By Sheri Kasprzak

Atlanta, April 25 - St. James Capital Holdings Inc. said it has closed a private placement for $1 million.

Stephen Lumb, the company's president, did not return requests for additional details on the offering by press time Monday.

The company said in a statement that it plans to acquire a company in the financial services sector. That acquisition will cost about $100 million and will be settled through the issue of restricted common stock.

Based in New York, St. James is a holding company for investment firms.

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