Company sells note due Feb. 9, 2014, along with 200,000 common shares
By Devika Patel
Knoxville, Tenn., Oct. 10 - Naked Brand Group Inc. sold a $300,000 convertible promissory note in a private placement on Oct. 4, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The 45% notes mature on Feb. 9, 2014. The notes will convert to common shares at $0.25 per share, which is an 8.7% premium to the Oct. 3 closing share price of $0.23. The company may repay the note at any time.
The investor also received 200,000 common shares.
The men's undergarment manufacturer is based in Abbotsford, B.C.
| Issuer: | Naked Brand Group Inc.
|
| Issue: | Convertible promissory notes, 200,000 common shares
|
| Amount: | $300,000
|
| Maturity: | Feb. 9, 2014
|
| Coupon: | 45%
|
| Conversion price: | $0.25
|
| Conversion premium: | 8.7%
|
| Call: | Yes
|
| Warrants: | No
|
| Settlement date: | Oct. 4
|
| Stock symbol: | OTCBB: NAKD
|
| Stock price: | $0.23 at close Oct. 3
|
| Market capitalization: | $9.39 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.
