Published on 6/3/2010 in the Prospect News PIPE Daily.
New Issue: NeoMedia sells $2.01 million of 14% convertible debenture via financing
By Devika Patel
Knoxville, Tenn., June 3 - NeoMedia Technologies, Inc. completed a $2.01 million secured convertible debenture financing with YA Global Investments, LP on May 28, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The 14% debenture is convertible into common shares at an initial conversion price of $0.30 per share. It matures July 29, 2012 and interest is payable at maturity.
YA also received warrants for 5 million common shares, which are exercisable at $0.30 until May 27, 2015.
NeoMedia is a technology company based in Fort Myers, Fla.
Issuer: | NeoMedia Technologies, Inc.
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Issue: | Secured convertible debenture
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Amount: | $2,006,137
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Maturity: | July 29, 2012
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Coupon: | 14%
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Price: | Par
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Yield: | 14%
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Conversion price: | $0.30
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Warrants: | For 5 million shares
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Warrant expiration: | May 27, 2015
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Warrant strike price: | $0.30
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Investor: | YA Global Investments, LP
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Settlement date: | May 28
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Stock symbol: | OTCBB: NEOM
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Stock price: | $0.17 at close May 28
|
Market capitalization: | $4.08 million
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