By Sheri Kasprzak
New York, Feb. 23 - National Holdings Corp. wrapped a private placement of promissory notes with warrants for $1 million.
The 10% notes are due in two years and are not convertible.
The investors - Christopher C. Dewey and St. Cloud Capital Partners, LP - received warrants for 250,000 shares, exercisable at $1.40 each for five years.
New York-based National Holdings is a holding company for National Securities Corp., National Insurance Corp. and National Holdings Mortgage Corp.
| Issuer: | National Holdings Corp.
|
| Issue: | Promissory notes
|
| Amount: | $1 million
|
| Maturity: | Two years
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Warrants: | For 250,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.40
|
| Investors: | Christopher C. Dewey and St. Cloud Capital Partners, LP
|
| Settlement date: | Feb. 22
|
| Stock symbol: | OTCBB: NHLD
|
| Stock price: | $1.60 at close Feb. 22
|
| Stock price: | $1.41 at close Feb. 23
|
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