TCA Global Credit buys debentures due April 30, 2013 in private sale
By Devika Patel
Knoxville, Tenn., May 18 - Dynamic Ventures Corp. negotiated a $750,000 private placement of 12% senior secured redeemable debentures with TCA Global Credit Master Fund, LP on May 15, according to an 8-K filed Friday with the Securities and Exchange Commission.
The debentures mature April 30, 2013. They may be called with a 5% premium within 180 days and with an 8% premium after the first 180 days.
In connection with the sale, TCA will also receive $200,000 in common shares.
Based in Scottsdale, Ariz., Dynamic Ventures develops and markets efficient construction solutions for residential and commercial buildings.
| Issuer: | Dynamic Ventures Corp.
|
| Issue: | Senior secured redeemable debentures, $200,000 of common stock
|
| Amount: | $750,000
|
| Maturity: | April 30, 2013
|
| Coupon: | 12%
|
| Call: | Yes, at 5% premium within 180 days, 8% premium after 180 days
|
| Warrants: | No
|
| Investor: | TCA Global Credit Master Fund, LP
|
| Settlement date: | May 15
|
| Stock symbol: | OTCBB: DYNV
|
| Stock price: | $0.09 at close May 14
|
| Market capitalization: | $3.99 million
|
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