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TRIBRIDGE RAISES $24 MILLION

The company has made no public announcement I can find, but SEC documents show Tribridge Holdings, apparently the parent of the Tampa, Fla.-based Dynamics reselling company, raised $24 million in early September. It was an all equity offering. According to the meager information available on these forms, the company estimated that $3,737,000 would be used in payment to "executive officers, directors or promoters". You'd have to figure that's probably debt repayment, although the form doesn't provide the information. Well, maybe this explains why Tribridge hired a new CFO in August since there's more money to manage. I supposed we could assume the rest might be debt repayment or the old general working purposes as it's not being used for any combination, merger or acquisition.

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