UCN Inc. raises $2.5 million in equity financing round

UCN Inc., a Salt Lake-based technology company, announced Friday that it has raised $2.5 million in equity financing through a private sale of its common stock to an institutional investor.

UCN sold 1.09 million common shares, at $2.30 per share, in the private placement. The proceeds will be used to reduce debt and fund marketing programs, the company said.

The private placement was made in a transaction exempt from the registration requirements of the U.S. Securities Act of 1933.