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TECTURA WENT AFTER ADDITIONAL FUNDING
Tectura, the international Dynamics reseller based in Redwood City, Calif., hiked the amount of funding it sought to raise in the second half of 2009 from $10 million, first anticipated in June, to $17.3 million raised in December. These figures were provided with filings the company made with the SEC regarding funds raised through the sale of securities.
None of the offering proceeds resulted from the sale of equity-based securities but came through debt issues along with options, warrants and other rights to buy securities. The document did not break down the amount involved in the two categories and CEO Terry Petrzelka declined to do so. When the offering was first disclosed, he had described it as aimed at cleaning up Tectura's balance sheet.
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