Deal sells series H convertible preferreds with five-year warrants
By Devika Patel
Knoxville, Tenn., March 28 - Naturewell, Inc. settled a $250,000 private placement of series H convertible preferred stock with Dutchess Global Strategies Fund LLC and Dutchess Opportunity Fund II LP on March 22, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 2,500 preferreds at $100.00 apiece. The preferreds are convertible into common shares at $0.30 per share.
The investors also received warrants for 208,334 common shares, which are each exercisable at $0.60 for five years.
Naturewell, based in San Diego, is a research and development company focused on homeopathic treatments.
| Issuer: | Naturewell, Inc.
|
| Issue: | Series H convertible preferred stock
|
| Amount: | $250,000
|
| Preferreds: | 2,500
|
| Price: | $100.00
|
| Conversion price: | $0.30
|
| Warrants: | For 208,334 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.60
|
| Investors: | Dutchess Global Strategies Fund LLC and Dutchess Opportunity Fund II LP
|
| Settlement date: | March 22
|
| Stock symbol: | OTCBB: NAWL
|
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