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Pivotal confirms Series C round is actually over $650 million

TechCrunch TechCrunch 9/05/2016 Ron Miller

Pivotal filed a Form D last week with the SEC indicating that last week’s $253 million round was actually closer to $653 million.

Where did the extra money come from? Well, existing investors EMC converted $400 million in debt to equity to account for the additional money recorded in the SEC form, according to a Pivotal spokesperson.

It’s actually interesting that EMC, which is in the midst of a $67 billion acquisition by Dell would be so free with its cash ahead of finalizing the sale. Chances are, however that at this point Dell approved any move that EMC made in this regard.

Of course, further confusing the matter, Pivotal is jointly owned by EMC and VMware (along with GE and now Ford).

(We will be updating this story further.)

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