Company sells 6% convertible debentures due May 2, 2016 through deal
By Devika Patel
Knoxville, Tenn., Nov. 6 – Diamond Technology Enterprises, Inc. sold $110,109 of convertible debentures in a private placement on Nov. 2, according to an 8-K filed Friday with the Securities and Exchange Commission.
The 6% debentures are due May 2, 2016 and may be converted to common stock at 50% of the closing bid price of the stock on the day of conversion.
The private diamond producer is based in New York.
| Issuer: | Diamond Technology Enterprises, Inc.
|
| Issue: | Convertible debentures
|
| Amount: | $110,109
|
| Maturity: | May 2, 2016
|
| Coupon: | 6%
|
| Conversion price: | 50% of the closing bid of the stock on the day of conversion
|
| Warrants: | No
|
| Settlement date: | Nov. 2
|
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