10% promissory notes will convert to common stock at $0.08 per share
By Devika Patel
Knoxville, Tenn., July 21 – GlobalWise Investments Inc. said it settled a $500,000 private placement of convertible promissory notes.
The 10% note converts to common stock at $0.08 per share, which is a 33.33% premium to the July 18 closing share price of $0.06.
Proceeds will be used for expanding sales and marketing efforts.
The Columbus, Ohio, technology company focuses on the design, implementation and management of cloud-based Enterprise Content Management (ECM) systems in both the public and private sectors.
| Issuer: | GlobalWise Investments Inc.
|
| Issue: | Convertible promissory note
|
| Amount: | $500,000
|
| Coupon: | 10%
|
| Conversion price: | $0.08
|
| Warrants: | No
|
| Settlement date: | July 21
|
| Stock symbol: | OTCBB: GWIV
|
| Stock price: | $0.06 at close July 18
|
| Market capitalization: | $2.89 million
|
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