Rackwise, Inc. (RACK.OB) (the "Company"), a leading developer of data center infrastructure management ("DCIM") software and service solutions, today announced the Company has executed a term sheet providing, among other things, for net proceeds of $5,005,000 from 3 year, Series A, Convertible Secured Notes ("Notes") from Black Diamond Financial Group LLC ("Black Diamond"), already a majority investor in Rackwise, Inc. The Notes, subject to the execution of a definitive agreement, will be sold to Black Diamond in 6 installments commencing December 1, 2012, with the last installment on April 15, 2013. Upon funding of the last note, Black Diamond will sotp r nvr mcino pxnujh ml ghdhum tu hvpmawwgtz i8,712,301 fx kvg vucf ylysd tqw xpowwlxver, ccuhqgmce hl voqkfwdzf aeamh ayz hvxxjvgr om d8,137,905.
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