Acceleware has announced the sale of its MAV II floating notes for cash proceeds of $752,46. Their release:
Acceleware® Corp. (TSX VENTURE:AXE) a leading developer of high performance computing applications, today announces the sale of its MAV II floating rate notes (the “Notes”) for cash proceeds of $752,466. The Notes were acquired as a result of the restructuring of the Canadian third party asset backed commercial paper market. The Notes had a carrying value of $689,546 as at September 30, 2009. The proceeds of the sale will be used to retire current debt secured by the Notes in the amount of $410,615 with the balance used for working capital.
For more info, check out the original release here.