Published on 1/15/2016 in the Prospect News PIPE Daily.
FONU2 takes in $75,900 from private placements of convertible notes
Convertibles were purchased by SBI Investments and CareBourn Capital
By Devika Patel
Knoxville, Tenn., Jan. 15 – FONU2 Inc. sold a $25,000 8% convertible note due Jan. 11, 2017 to SBI Investments on Jan. 11 and a $50,900 12% convertible note due Nov. 12, 2016 to CareBourn Capital LP on Jan. 12, according to an 8-K filed Friday with the Securities and Exchange Commission.
The notes may be converted into common shares at 55% of the lowest trading price of the stock during the 20 trading days preceding conversion.
FONU2 is a technology company based in Fort Lauderdale, Fla.
Issuer: | FONU2 Inc.
|
Issue: | Convertible note
|
Amount: | $78,500
|
Conversion price: | 55% of the lowest trading price of the stock during the 20 trading days preceding conversion
|
Warrants: | No
|
Investor: | SBI Investments (for $25,000), CareBourn Capital LP (for $50,900)
|
Settlement dates: | Jan. 11 (for $25,000), Jan. 12 (for $50,900)
|
Stock symbol: | OTCBB: FONU
|
|
SBI note
|
Coupon: | 8%
|
Maturity: | Jan. 11, 2017
|
|
CareBourn note
|
Coupon: | 12%
|
Maturity: | Nov. 12, 2016
|
© 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.