LOS ANGELES, CA, (NAMC) – The Customer Relationship Management firm PacificNet, Inc (NASDAQ: PACT) has signed a definitive agreement with several institutional investors for a $8 million senior convertible note private placement.

The initial conversion price of the convertible note is $10.00 per share, and the company also issued warrants to purchase an additional 400,000 at $12.20 per share.

C.E. Unterberg Towbin was the lead placement agent of the deal.

For more information on PacificNet go to their website at www.pacificnet.com

PacificNet closed at $7.92 on Tuesday.

David Kingston
Los Angeles News Correspondent
NAMC Newswire
www.namcnewswire.com

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