10% two-year note converts to stock at 55% of market price
By Devika Patel
Knoxville, Tenn., April 10 - Global Vision Holdings, Inc. sold $134,000 of convertible promissory notes on April 3, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The 10% note is due in two years and may be converted to class B common stock at 55% of the market price of the stock. The company may prepay the note.
The financial holding company is based in Irvine, Calif.
| Issuer: | Global Vision Holdings, Inc.
|
| Issue: | Convertible promissory note
|
| Amount: | $134,000
|
| Maturity: | Two years
|
| Coupon: | 10%
|
| Conversion price: | 55% of market price
|
| Call: | Yes
|
| Warrants: | No
|
| Settlement date: | April 3
|
| Stock symbol: | OTCBB: GVHIB
|
| Stock price: | $0.40 at close on April 2
|
| Market capitalization: | $95.58 million
|
© 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.
