StockMarketWire.com - TMT Investments has announced that its portfolio company, The One-Page Company, raised $1.0m in a series A equity financing led by Blumberg Capital.

According to the terms of the company's convertible promissory note in One-Page the outstanding principal and unpaid accrued interest of the note amounting to $244,293.84 was converted into One-Page's preferred shares at an equity valuation equal to 80% of the equity valuation of One-Page applicable to the Series A financing.

As a result, TMT currently owns 305,642 preferred shares in One-Page representing 6.09% of One-Page's fully diluted equity capital.

TMT's original investment was made on 6 February 2012 and consisted of a US$242,500 unsecured convertible promissory note in One-Page.

Its Executive Director Alexander Selegenev said: "The latest equity fundraising is an important vote of confidence in One-Page's business model and management team, and the new funds will provide additional firepower for the company's future growth. We are pleased that this opportunity to convert our note on favourable terms has allowed us to increase the fair value of our investment in One-Page by 25% after only three months."




At 10:12am: [LON:TMT] TMT Group share price was 0p at 1.45p



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