By Devika Patel
Knoxville, Tenn., May 1 - NextMart, Inc. arranged a $10 million private placement of convertible bonds with Evenstar Master Sub-Fund I Segregated Portfolio on April 29, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The bonds carry a 2% coupon.
The company also lent Evenstar 10,821,254 ordinary shares. Upon return of the shares, Evenstar will redeliver the shares to the company, or may retain ownership of the stock but pay the equivalent value in cash, or return a number of convertible bonds that are convertible into equivalent number of shares.
Based in New York, NextMart focuses on its business-to-business brand and apparel production management business.
Issuer: | NextMart, Inc.
|
Issue: | Convertible bonds
|
Amount: | $10 million
|
Coupon: | 2%
|
Price: | Par
|
Warrants: | No
|
Investor: | Evenstar Master Sub-Fund I Segregated Portfolio
|
Pricing date: | April 29
|
Stock symbol: | OTCBB: NXMR
|
Stock price: | $0.07 at close April 29
|
© 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.