ORC Signs U.S. Central; Plans Recapitalization

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Online Resources Corp., fresh off an e-payment contract with U.S. Central CU, said it hopes to stave off a delisting bid by the Nasdaq stock market by a recapitalization plan. Under the plan, Online Resources raised $4.4 million through a private placement of 1.4-million newly issued common shares and used $3.9 million of the funds to buy back $3.9 of its convertible notes at par.

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