By Devika Patel
Knoxville, Tenn., Sept. 10 - i2 Telecom International, Inc. raised $2 million in a private placement of series F convertible preferred stock on Sept. 3, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The 2,000 preferreds are convertible into 4 million common shares.
The investors also received a three-year warrant for 2 million shares. It is exercisable at $0.625.
Atlanta-based i2 Telecom provides voice-over-internet protocol services to telecommunications companies.
Issuer: | i2 Telecom International, Inc.
|
Issue: | Series F convertible preferred stock
|
Amount: | $2 million
|
Shares: | 2,000
|
Conversion ratio: | Into 4 million common shares
|
Warrants: | For 2 million shares
|
Warrant expiration: | Three years
|
Warrant strike price: | $0.625
|
Settlement date: | Sept. 3
|
Stock symbol: | OTCBB: ITUI
|
Stock price: | $0.05 at close Sept. 3
|
Market capitalization: | $1.45 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.