Funding U reports $6 million equity offering with $2.7 million in cash
Jeannie Tarkenton's no-cosigner student lender sold equity to six investors, while $3.35 million of the total converted or canceled existing securities.
By Ryan Merket · Published
Primary source: SEC
Why it matters
The $6.02 million headline masks a smaller cash infusion. Funding U received $2.68 million while converting $3.35 million of existing securities, giving Tarkenton more operating capital without disclosing a valuation or new lending facility.
Jeannie Tarkenton's Funding U reported a fully sold $6.02 million equity offering with a July 7th first sale, although only $2.68 million of the transaction brought new cash into the Atlanta student lender.…
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