By Devika Patel
Knoxville, Tenn., Aug. 11 - Deltathree, Inc. raised $1 million from a private placement of a 12% promissory note with D4 Holdings, LLC on Aug. 10, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The note matures on Aug. 10, 2012.
D4 Holdings also received warrants for 4 million common shares. The warrants are exercisable at $0.1312 for 10 years. The strike price represents an 18% discount to the Aug. 9 closing share price of $0.16.
Deltathree, based in New York, is a provider of integrated voice-over-internet protocol telephony services, products, hosted solutions and infrastructure.
| Issuer: | Deltathree, Inc.
|
| Issue: | Promissory note
|
| Amount: | $1 million
|
| Maturity: | Aug. 10, 2012
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Warrants: | For 4 million shares
|
| Warrant expiration: | 10 years
|
| Warrant strike price: | $0.1312
|
| Investor: | D4 Holdings, LLC
|
| Settlement date: | Aug. 10
|
| Stock symbol: | OTCBB: DDDC
|
| Stock price: | $0.16 at close Aug. 10
|
| Market capitalization: | $11.86 million
|
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