[0] United Shipping & Technology Inc. Has Raised $15 Million in Private Financing.Business Editors & High-Tech/Transportation Writers MINNEAPOLIS--(BUSINESS WIRE)--March 13, 2001 United Shipping & Technology Inc. (US&T)(Nasdaq:USHP USHP Utah Society of Health-System Pharmacists ) announced that it has raised private placement financing for $15.0 million of its Series D Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". . The proceeds will be used to fund working capital and other needs. A special shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. , scheduled for the Spring of 2001, is being called to approve the issuance of all securities. The foregoing securities have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. absent registration or an applicable exemption from registration requirements. |
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