Quotesmith.com Completes Life Quotes Acquisition

Quotesmith.com Inc., the Darien, Ill.-based online brokerage that has yet to record a profit, announced that it has completed the previously announced asset acquisition of Life Quotes Inc. utilizing cash on hand and external financing.

As part of the Life Quotes asset acquisition and as previously announced, Quotesmith.com intends to sell about 2.4 million shares of common stock at a price of $5.50 per share to Zions Bancorp., raising $13 million in additional capital.