8% three-year unsecured promissory notes convert at $0.25 per share
By Devika Patel
Knoxville, Tenn., Oct. 16 – Symbid Corp. settled a $1.5 million private placement of 8% three-year convertible unsecured promissory notes, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal raised $250,000 on July 14 and $1.25 million on Sept. 8.
The notes initially may be converted into common stock at $0.25 per share, which is a 19.36% discount to the Oct. 15 closing share price of $0.31. The notes may be prepaid at 110.
The online crowdfunding company is based in Rotterdam, The Netherlands.
| Issuer: | Symbid Corp.
|
| Issue: | Convertible unsecured promissory notes
|
| Amount: | $1.5 million
|
| Maturity: | Three years
|
| Coupon: | 8%
|
| Conversion price: | $0.25
|
| Call: | At 110
|
| Warrants: | No
|
| Announcement date: | Oct. 16
|
| Settlement date: | July 14 (for $250,000), Sept. 8 (for $1.25 million)
|
| Stock symbol: | OTCBB: SBID
|
| Stock price: | $0.31 at close Oct. 15
|
| Market capitalization: | $10.83 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.
