Business Services Industry

Terremark announces commitment of $7.5 million in equity funding at premium to market. (IDC and Web Hosting).(Brief Article)

Internet Business Newsletter, April, 2002

Terremark Worldwide Inc., the carrier-neutral operator of a Tier-1 NAP and a provider of Internet infrastructure and managed services announced that it has received a binding commitment for the purchase of 57.5 million of common stock at $0.75 per share. The investor group is primarily composed of insiders and long time Terremark investors.

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