Company sells 9% secured convertibles due 2013 in private placement
By Devika Patel
Knoxville, Tenn., June 6 - Carbonics Capital Corp. settled a $200,000 secured convertible debenture private placement with YA Global Investments, LP on May 31, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The 9% debenture is convertible into common shares at a conversion price equal to $0.003 or 90% of the lowest daily volume-weighted average price of the common stock during the 10 consecutive trading days immediately preceding the conversion date. The note matures Dec. 31, 2013 and interest is payable at maturity.
The Princeton, N.J., company was formed to recycle carbon dioxide into products.
| Issuer: | Carbonics Capital Corp.
|
| Issue: | Secured convertible debenture
|
| Amount: | $200,000
|
| Maturity: | Dec. 31, 2013
|
| Coupon: | 9%
|
| Conversion price: | $0.003 or 90% of the lowest daily volume-weighted average price of the common stock during the 10 consecutive trading days immediately preceding the conversion date
|
| Warrants: | No
|
| Investor: | YA Global Investments, LP
|
| Settlement date: | May 31
|
| Stock symbol: | OTCBB: CICS
|
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