SAN RAMON, Calif. - Finet.com has closed a $7.4 million private placement of common stock to a group of its current shareholders, including Banco Espirito Santa de Investmento, a Portugal investment bank.

The transaction, which closed Friday, involves 18.5 million shares of common stock at a purchase price of 40 cents per share.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.