SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) March 6, 2000
FIRST ECOM.COM, INC.
(Exact Name of Registrant as Specified in Charter)
Nevada 0-27753 98-0206979
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
902 Henley Building 5, Queen's Road Central, Hong Kong SAR
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code ( 852 ) 2801-5181
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(Former Name or Former Address, if Changes Since Last Report)
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First Ecom.com Closes $30 Million Private Placement Round
Prudential Volpe Technology Group Agents Funding Round
HONG KONG, March 6, 2000 -- First Ecom.com (NASD OTC BB: FECC), a global
provider of electronic payment processing, today announced it has closed a
private funding round totaling $30 million, with Prudential Volpe Technology
Group, a unit of Prudential Securities Incorporated, serving as the placement
agent. This new round brings the total amount of private placement funding that
First Ecom.com has received to more than $45 million during the past three
months. Each Unit consisted of one share of common stock and a warrant to
purchase one-third of a share of common stock.
Gross proceeds of the private placement totaled $30,670,750. The units have not
been registered under the Securities Act of 1933, as such securities were
offered and sold outside the United States pursuant to an exemption from the
registration requirements under Regulation S of the Securities Act. The Units
were sold for $9.50 per Unit. The exercise price of the warrants included in the
Units is $11.40 per whole share of common stock.
"As evidenced by this and our most recent series of funding, investor interests
in First Ecom.com continues to be strong," said Greg Pek, president and CEO of
First Ecom.com. "Given our relatively young position in the market, we are
pleased to have the support of new investors, and we particularly appreciate the
involvement and contributions of the Prudential Volpe Technology Group."
The securities described above have not been registered under the Securities Act
of 1933, as amended, and may not be offered or sold in the United States absent
registration or applicable exemption from registration requirements.
About First Ecom.com
As a global provider of electronic payment processing, First Ecom.com provides
secure, easy-to-implement and low-cost online payment processing services to
merchants and banks worldwide. Through strategic partnerships with banks, ISPs,
e-commerce product suppliers, system integrators and storefront solution
providers, First Ecom.com processes credit card transactions made over the
Internet in multiple currencies, either domestically or otherwise or offshore in
a tax-neutral jurisdiction.
For more information, visit www.firstecom.com or contact First Ecom.com at (888)
305-8233 or by e-mail at [email protected].
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIRST ECOM.COM, INC.
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(Registrant)
Date March 16, 2000 By /S/ John Brewer
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(Signature)
John Brewer, Secretary and
Chief Financial Officer
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