Investor Alan Aaron gets 100,000 shares as additional consideration
By Angela McDaniels
Tacoma, Wash., Sept. 11 - Naked Brand Group Inc. issued a $150,000 promissory note to Alan Aaron, who also received 100,000 shares of common stock.
The note matures Jan. 6, 2014 and carries a 15% interest rate, according to an 8-K filing with the Securities and Exchange Commission.
The note will be repaid in eight twice-monthly payments. Each payment will be $18,750 of principal and $2,812.50 of interest.
The company may repay the note at any time before maturity without penalty.
On Sept. 9, the company repaid $166,667 of its $500,000 promissory note with JMJ Financial, representing the full amount due on the note.
The undergarment manufacturer for men is based in Abbotsford, B.C.
Issuer: | Naked Brand Group Inc.
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Issue: | Promissory note, common stock
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Warrants: | No
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Investor: | Alan Aaron
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Pricing date: | Sept. 3
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Stock symbol: | OTCBB: NAKD
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Stock price: | $0.54 at close Sept. 11
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Market capitalization: | $17.23 million
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Note
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Amount: | $150,000
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Maturity: | Jan. 6, 2014
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Coupon: | 15%
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Price: | Par
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Call option: | Yes
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Settlement date: | Sept. 6
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Common stock
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Shares: | 100,000
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Settlement date: | Sept. 10
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