“Corel Corp. (COR) has received $30 million in a deal aimed at
infusing some much-needed cash to the ailing software maker.”
“The troubled Ottawa company, which announced last week it lost
$23.6 million US in its second quarter due to plunging sales, said
Wednesday that it has completed the sale of 7.3 million common
shares to Canaccord Capital Corp. of Vancouver at a price of $4.11
a share.”
“The company’s fiscal health also depends on whether its
ambitious financing plans pan out. … If the second share offer
doesn’t come through, the company could find itself in another cash
crunch later this year. Analysts expect the company to lose
about the same amount of money in the third quarter as it did in
its second.”