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Oklahoma business briefs for June 12, 2013

Oklahoma business briefs for June 12
Published: June 12, 2013
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Elephant Talk CEO invests $4.5M

Elephant Talk Communications Corp., provider of software and services developed to manage network, billing and systems infrastructure, has increased its previously announced registered direct offering. The offering has grown from $10.5 million to $12 million, led by a $4.5 million investment from Elephant Talk CEO Steven van der Velden and a $5 million investment from Crede CG III. Ltd. “I believe increasing this offering and using the proceeds to repay existing debt places the company in a stronger financial position by providing liquidity and lowering the company's outstanding debt significantly.”

From Staff Reports