RAMTelecom adjusts plans

RAMTelecom Inc. revises RAMTelecom-189X51.JPGplans to issue some 2.4 million common shares in a non-brokered private placement, upping the placement to 2.75 million units. The local satellite service provider had in early March announced intentions to issue 2,444,444 common shares at $0.45 a share, noting it would use the proceeds to expand North American operations. Now the company has put forward plans to issue 2.75 million units at $.40 each, consisting of one common share and a purchase warrant for a second share available for $0.55 until Oct. 1, 2008. In February, RAMTelecom announced that it was being acquired by the Canadian arm of Houston-based SkyPort Global Communications. The takeover will be finalized by the end of June.

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