By Sheri Kasprzak
New York, June 1 - Celsia Technologies Inc. released the details on its previously announced $8,142,847 private placement of secured convertible debentures.
The 8% debentures are due May 25, 2010 and are convertible into common shares at $0.125 each.
Of the debentures, $6.85 million were issued for cash and the rest in exchange for all of the company's outstanding promissory notes.
The investors received warrants for 70,752,778 shares, exercisable at $0.144 each for five years.
Indigo Securities, LLC and Axiom Capital Management, Inc. were the placement agents.
Based in Miami, Celsia develops and licenses thermal-management projects and technologies for the personal computers, consumer electronics, lighting and display sectors.
| Issuer: | Celsia Technologies Inc.
|
| Issue: | Secured convertible debentures
|
| Amount: | $8,142,847
|
| Maturity: | May 25, 2010
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | $0.125
|
| Warrants: | For 70,752,778 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.144
|
| Placement agents: | Indigo Securities, LLC; Axiom Capital Management, Inc.
|
| Settlement date: | May 25
|
| Stock symbol: | OTCBB: CSAT
|
| Stock price: | $0.11 at close May 25
|
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