Company sells 8% notes due Dec. 27, 2014 to Nomis Bay through offering
By Devika Patel
Knoxville, Tenn., May 21 - Stevia Corp. sold a $600,000 senior convertible note to Nomis Bay Ltd. on May 16, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The 8% note is due on Dec. 27, 2014 and is convertible into common stock at the lesser of (a) the product of the arithmetic average of the lowest two volume weighted average prices of the stock during the 10 consecutive trading days preceding the conversion date and 60% and (b) $0.30.
Stevia is an Indianapolis farm management company focusing on stevia agronomics.
| Issuer: | Stevia Corp.
|
| Issue: | Senior convertible note
|
| Amount: | $600,000
|
| Maturity: | Dec. 27, 2014
|
| Coupon: | 8%
|
| Conversion price: | The lesser of the product of the arithmetic average of the lowest two volume weighted average prices of the stock during the 10 consecutive trading days preceding the conversion date and 60% and $0.30
|
| Warrants: | No
|
| Investor: | Nomis Bay Ltd,
|
| Pricing date: | May 16
|
| Stock symbol: | OTCBB: STEV
|
| Stock price: | $0.17 at close May 15
|
| Market capitalization: | $19.41 million
|
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