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Latin Portal Quepasa Borrows $7 Million From Two Investor Groups

Latin portal Quepasa announced that it is borrowing $7 million from two previous backers. The publicly traded firm that first came to market during the .com boom (before being taken private and then public again) has taken $5 million from Mexican and Americans Trading Together (MATT) and $2 million from Richard L. Scott Investments, which will go towards working capital. The lenders will receive notes bearing interest of 4.46 percent. Additionally, certain warrants to purchase Quepasa shares held by the two firms will see their exercise prices reduced. Company shares jumped 15 percent in today’s trading. Release.

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Jan 30, 2008 2:05 PM ET

Posted In: Money, M&A & Venture Capital, Venture Capital, matt, quepasa, richard l. scott investments

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