By Sheri Kasprzak
New York, July 27 - InterSearch Group, Inc. completed a private placement of senior subordinated notes for $7 million.
The 13.5% notes are due July 20, 2011 and included 195,000 common shares and warrants for 477,000 shares.
The notes may be prepaid in whole or part in any amount greater than $100,000 without penalty.
The warrants are exercisable at $1.60 each through July 20, 2011.
San Francisco-based InterSearch provides internet search engine services.
| Issuer: | InterSearch Group, Inc.
|
| Issue: | Senior subordinated notes
|
| Amount: | $7 million
|
| Maturity: | July 20, 2011
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| Coupon: | 13.5%
|
| Price: | Par
|
| Yield: | 13.5%
|
| Shares: | 195,000
|
| Warrants: | For 477,000 shares
|
| Warrant expiration: | July 20, 2011
|
| Warrant strike price: | $1.60
|
| Settlement date: | July 21
|
| Stock symbol: | Pink Sheets: IGPN
|
| Stock price: | $3.00 at close July 21
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