(NAMC) - One of the leaders in wireless machine-to-machine or M2M solutions, Numerex Corp. (NASDAQ:NMRX) stated that they have entered into a $10 million financing agreement with the Laurus Master Fund, Ltd. According to the company the net proceeds from the transaction will be used primarily for strategic initiatives which may include joint ventures, co- marketing programs, and acquisition opportunities.

The financing is in the form of a four year US$10 million Convertible Note with a fixed interest rate of 9.5% and is secured by Numerex's assets. The company has also issued warrants to Laurus to purchase a total of 158,562 Numerex common shares at a price of $10.13.

NAMC Newswire

NAMC Newswire Note: The 2007 "Wall Street to Main Street" Contest is underway and is only  available to subscribers. Keep in mind that all subscriptions are free, all that you need to do is go to www.namcnewswire.com/contest and add your email address, its simple, quick and FREE. You can win one of the many prizes being offered from an iPod, Zune to various gift cards from select retailers..

This article can be republished either online or in print as long as credit is given to the author and the NAMC Newswire.
 
Wall Street to Main Street is also one of the leading shows on StreetIQ , the leader in financial podcast: http://www.streetiq.com/dir/NAMC.shtml

Also be sure to listen to the "Wall Street to Main Street" radio show that is syndicated daily. Just visit the NAMC radio at www.namcnewswire.com/namcradio. 

U.S. Trade Delegations to China scheduled for 2007, Small and Mid Cap Public and Private U.S. Companies are the Focus of the trips: www.namcworldwide.com/conferences