Home / Knowledge / News / Fashion / Abazias.com raises extra $200,000 in funding

Abazias.com raises extra $200,000 in funding

22
Dec '05
Leading international diamond seller Abazias is pleased to announce that they have raised an additional $200,000 in private placement funding.

The purchase with a private investment group including Famalom, LLC and Abundance Partners, LP a NY based Hedge fund, concluded at or near market prices for an anticipated maximum of 2.43 million restricted shares, however at no less than .07 cents a share.

The agreement also includes partial non-registered warrant coverage with various strike prices up to 20 cents.

Proceeds will be used to further implement Abazias' business plan, which includes but is not limited to a larger marketing budget to increase awareness of its current dominant status as the largest online site for loose diamonds.

The proceeds will also allow Abazias to expand their online product offerings to include more jewelry and watches, including being the exclusive online seller of the Paris Hilton Limited Edition watches.

CEO Oscar Rodriquez commented, "Clearly,growth potential is evident to this investment group. With increased diamond sales, strategic marketing alliances and phenomenal 4th quarter sales, this was a ripe opportunity for us to expand our wingspan in the marketplace."

Rodriguez continues, "The prices are fair and with current low burn rate these funds will truly go to expanding business."

Abazias.com showcases over 70,000 diamonds, valued at over $350 million on its site at www.abazias.com. Most of Abazias.com's diamonds are GIA, AGS or EGL certified.

Abazias.com offers the "Couples Diamond" which is required to meet even higher standards for cut, clarity and dimensions. Abazias.com is also a full-service jeweler offering a large selection of settings for stones purchased. www.abazias.com.

Abazias


Must ReadView All

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Pharr sells Pharr High Performance to Coats Group

Pharr, a provider of differentiated textile products and assorted...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

TOAI highlights importance of textiles in auto industry

The first edition of the conference 'Textile Opportunities in a...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Cocona's 37.5 fibres to have new biodegradable additive

All of the 37.5 staple fibres and filament yarns by Cocona, will now...

Interviews View All

Subhashini Srinivasan, The S Studio

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Siddharth Biyani, Mangalam Industries Pvt Ltd

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

Tom,

Tom

<div>Inkbank is a leading supplier of inkjet inks and inkjet printing...

Tina Antoniades,

Tina Antoniades

India-headquartered Lulu &amp; Sky is a rapidly escalating brand with the...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search