In Brief: Capital Z Fund Hikes Stake in LendingTree

October 03, 2000, 1:00 a.m. EDT 1 Min Read

CHARLOTTE, N.C. LendingTree Inc., an online loan marketplace and loan exchange technology provider, said that its largest shareholder, Capital Z Financial Services Fund II, has bought an additional $10 million of the companys stock.

On Monday the fund bought approximately 1.2 million common shares at $7.98 per share and received warrants to purchase an additional 360,000 shares at the same price.

Capital Z also has the right to receive additional LendingTree shares if the company raises additional funds at a lower price.

The investment increases Capital Zs position in LendingTree by 5 percentage points, to 26.2%.

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