'mktg, inc.' (CMKG) said Monday that it has entered into a securities purchase agreement with an investment vehicle organized by Union Capital Corp., and certain of directors and officers of the company, providing for a $5 million financing led by an affiliate of Union Capital.
The financing will consist of $2.5 million in aggregate principal amount of Senior Secured Notes, $2.5 million in aggregate stated value of Series D Convertible Participating Preferred Stock, and Warrants to purchase 2,456,272 shares of Common Stock.
The financing is expected to close on or about December 10.
The company had previously reported that it was under financial strain and needed to seek working capital in light of recent losses, the suspension of its revolving credit facility and cash collateralization of its term loan, which has since been repaid, and a reduction in advance payments by clients.
The financing would ordinarily require prior stockholder approval under Nasdaq's listing rules, but the company said it has sought and obtained Nasdaq approval for an exception to their stockholder approval requirements so that the company could conclude the proposed financing at the earliest possible time.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.