By Devika Patel
Knoxville, Tenn., Dec. 15 - Anpath Group, Inc. settled a $5 million private placement of subordinated convertible promissory notes on Dec. 11, according to an 8-K filed Monday with the Securities and Exchange Commission.
The notes are being sold in units, with each of the 500 units consisting of $10,000 in notes and a five-year warrant for 20,000 common shares. The warrants are exercisable at $0.75.
The 8% notes are convertible into common shares at $0.50 per share.
The company also reduced the strike prices of certain warrants to $0.20 per share.
Based in Mooresville, N.C., Anpath produces cleaning and disinfecting products.
| Issuer: | Anpath Group, Inc.
|
| Issue: | Units of $10,000 in subordinated convertible promissory notes and a warrant
|
| Amount: | $5 million
|
| Units: | 500
|
| Price: | $10,000
|
| Warrants: | For 20,000 shares per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.75
|
| Settlement date: | Dec. 11
|
| Stock symbol: | OTCBB: ANPG
|
| Stock price: | $0.39 at close Dec. 11
|
| Market capitalization: | $5.6 million
|
|
|
| Notes
|
| Coupon: | 8%
|
| Price: | Par of $10,000
|
| Yield: | 8%
|
| Conversion price: | $0.50
|
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