Majesco gains $6 million

MCV Staff 6th September 2007 Publishing

Majesco, US publisher of Cooking Mama, has freed up $6 million through selling around 4 million of its shares.

According to an SEC filing, the firm will be putting the raised funds towards working capital, reported

Next Generation

.

The additional funds also provide valuable flexibility, stability and agility to reduce financing costs, fund growth, and expand our intellectual property partnerships in 2008 and beyond," said interim CEO Jesse Sutton.

Following the transaction, Majesco has 28,672,121 shares of common stock remaining.

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