Rackwise gets funding from initial investor

Rackwise, Inc. (OTC: RACK) said it has closed a USD3m funding from the sale of a 12 percent, three-year convertible note in the approximate face or principal amount of USD3.3m to an entity owned by Black Diamond Financial Group LLC, an initial investor in the company.

The funding represents the initial closing of an offering made by the company to the purchaser of up to approximately USD9.3m in face or principal amount of notes at an aggregate purchase price of approximately USD8.5m.

Rackwise is a leader in software development and marketing within the growing data centre infrastructure management market for IT infrastructure tracking, monitoring, modeling, and management. For more information, visit www.rackwise.com.

Black Diamond is a Colorado based private equity management group with an estimated USD300M+ of assets under management as the manager of Black Diamond Holdings LLC, a diversified holding company.

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