8% convertibles due Sept. 12, 2016 sold to five investors
By Devika Patel
Knoxville, Tenn., Sept. 13 - CopyTele, Inc. said it settled a $750,000 private placement of 8% convertible debentures with five investors.
The convertibles mature Sept. 12, 2016 and are convertible into common stock at $0.092 per share. The conversion price reflects a 48.89% discount to the Sept. 12 closing share price of $0.18. The debentures may be prepaid.
CopyTele is a Melville, N.Y.-based maker of encryption products that provide information security over every communications media.
| Issuer: | CopyTele, Inc.
|
| Issue: | Convertible debentures
|
| Amount: | $750,000
|
| Maturity: | Sept. 12, 2016
|
| Coupon: | 8%
|
| Conversion price: | $0.092
|
| Call: | Yes
|
| Warrants: | No
|
| Settlement date: | Sept. 13
|
| Stock symbol: | OTCBB: COPY
|
| Stock price: | $0.18 at close Sept. 12
|
| Market capitalization: | $34.71 million
|
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