BluePhoenix Raises a $35 Million War Chest
November 26, 2007 Timothy Prickett Morgan
BluePhoenix Solutions, the Herzliya, Israel, software company that provides legacy application modernization tools for the System i midrange and System z mainframe platforms, said last week that it is raising a $35 million war chest. Specifically, BluePhoenix says it is selling 2 million shares at $17.50 a pop in a private placement, which is a different way of raising money than from a public offering. BluePhonix is already a public company, of course, and is traded on the NASDAQ National Market. But of the 17.97 million shares the company has controlling its ownership, only 6.3 million of them are |