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Transaction-processing provider FNDS3000 Corp. Thursday completed a private-placement financing agreement with investor Sherington Holdings LLC. The Jacksonville, Fla.-based transaction processor says it FNDS3000 will raise up to $1.5 million through the issuance of common stock and warrants to Sherington. The processorIt sold 3,333,333 shares of common stock to Sherington and received $500,000 on Nov. 2. FNDS3000 anticipates closing the sale of an additional 6,666,667 shares of common stock to Sherington on Nov. 30 for $1 million. The second stock purchase is subject to closing conditions, notes Jacksonville, Fla.-based FNDS3000. The company says it will use the financing to enhance its product offerings, purchase and develop mobile-banking software, and supplement working capital, states FNDS3000. FNDS3000 officialsThe processor did not return a request for comment by CardLine deadline.
