SkyPostal completes $2.3 m private placement for its e-commerce logistics subsidiary
Proceeds will be used to roll out SkyShop’s online landed cost merchant technologies to facilitate cross border shopping. SkyPostal Networks, Inc. announced the completion of a private placement financing totaling $2.26 m in the form of senior secured convertible debt.
Littlebanc Advisors, LLC a boutique investment banking firm based in Boca Raton, Fl, acted as exclusive placement agent for the financing.
The proceeds of the offering will be used to rollout SkyShop’s merchant technologies that give online merchants the ability to accept international orders without taking on the inherent risks of cross-border shopping.
“We believe this financing will enable us to substantially accelerate our progress towards expanding our current consumer parcel business marketed under the PuntoMio brand to include a greater emphasis on merchant oriented e-commerce logistics,” said A.J. Hernandez, President of SkyPostal’s SkyShop Logistics division.
