10% promissory notes due Dec. 31, 2015 sold through Taglich Brothers
By Devika Patel
Knoxville, Tenn., July 14 – Globalwise Investments Inc. settled a $135,000 private placement of two convertible promissory notes on July 8, according to an 8-K filed Monday with the Securities and Exchange Commission. The company arranged to sell $10,000 of notes on June 20 and $125,000 of notes on June 25.
The 10% note converts to common stock at $0.08 per share, which is a 14.29% premium to the June 9 closing share price of $0.07. The note matures on Dec. 31, 2015.
Taglich Brothers, Inc. was the agent.
Proceeds will be used for debt repayment, working capital and general corporate purposes.
The Columbus, Ohio, technology company focuses on the design, implementation and management of cloud-based Enterprise Content Management (ECM) systems in both the public and private sectors.
| Issuer: | Globalwise Investments Inc.
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| Issue: | Convertible promissory note
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| Amount: | $135,000
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| Maturity: | Dec. 31, 2015
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| Coupon: | 10%
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| Conversion price: | $0.08
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| Warrants: | No
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| Agent: | Taglich Brothers, Inc.
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| Settlement date: | June 20 (for $10,000), June 25 (for $125,000)
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| Settlement date: | July 8
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| Stock symbol: | OTCBB: GWIV
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| Stock price: | $0.07 at close June 19
|
| Market capitalization: | $3.79 million
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