Salt Lake-based UCN Inc. said Tuesday it has entered into a revolving credit and term loan agreement with ComVest Capital.
ComVest has agreed to loan up to $7.5 million under a revolving credit note and $4.5 million to the company under a convertible term note that is convertible to common stock at $3 per share.
UCN agreed to issue ComVest a warrant to buy 330,000 shares of UCN common stock at the lesser of $2.75 per share or 130 percent of market at the time of closing, which is expected to be by June 1.
UCN provides contact handling software services and business data and voice services.
Consumer confidence
A better hiring outlook and lower gas prices pushed a measure of U.S. consumer confidence to its highest level in four and a half years.
5th iPhone app
Clayton Ward, a 10th-grader from West Jordan,has created five apps for the Apple operating systems.
poorer people charitable
A 2009 study showed the poor give a higher percentage of their income to charity than rich people.
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