New Issue: Nestor finishes $6 million private placement of 5% senior convertible notes

By Sheri Kasprzak

Atlanta, Nov. 10 - Nestor Inc. has completed the sale of $6 million of 5% three-year senior convertible notes, the company said Wednesday.

The notes, due Oct. 31, 2007, are convertible into common shares at $5.82 per share and bear an interest rate of 5% annually.

Nestor is a Providence, R.I.-based traffic monitoring systems and services company.

Issuer:	Nestor Inc.
Issue:	Senior convertible notes
Amount:	$6 million
Maturity:	Oct. 31, 2007
Coupon:	5%
Price:	Par
Yield:	5%
Conversion premium:	10.5%
Conversion price:	$5.82
Warrants:	No
Announcement date:	Nov. 10
Pricing date:	Oct. 31
Stock price:	$5.25 at close Oct. 29 (last trade before pricing)
Stock price:	$6.40 at close Nov. 9

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