ANTs Software, Inc., a leader in database migration solutions that offers a complete portfolio of services, recently announced that the company has closed the first $500,000 tranche of the previously announced $10 million investment agreement with Fletcher International, Ltd, an affiliate of Fletcher Asset Management, Inc.
This funding, along with the $1.5 million invested in March earlier this year, will primarily be used to fund ANTs’ development of database migration solutions and to effectively launch the company’s services to the marketplace. The remaining two future investments are subject to achievement of predetermined business milestones.
Joseph Kozak, chairman and chief executive officer of ANTs Software, stated, “We are very pleased with Fletcher’s continued partnership with ANTs.” Mr. Kozak continued, “We continue to have a number of very significant corporate milestones on the horizon and this investment allows us to continue to move towards achieving our goals.”
Details of all tranches with Fletcher Asset Management will be included on the company’s Form 8-K to be filed with the Securities & Exchange Commission. For additional information, please visit www.ants.com.