8x8 Raises $12 Million in Sale of Common Stock

8x8, a provider of VoIP and videophone service, has agreed to sell 3,508,772 shares of common stock to an institutional investor at $3.42 per share for aggregate proceeds of $12 million before placement fees and other offering expenses. The investor will also receive a warrant to purchase an additional 1,403,509 8x8 common shares at an exercise price of $4.10 per share. http://www.8x8.com