MoSys extends $8 million 10% convertibles to 2019, cuts coupon to 8%

By Susanna Moon

Chicago, Feb. 27 – MoSys, Inc. amended the terms of its $8 million 10% senior secured convertible notes due Aug. 15, 2018 and extended it until Aug. 15, 2019.

The coupon was reduced to 8% and the conversion price was reduced to $4.25 per share from $8.50 per share.

The company amended the purchase agreement of the $8 million private placement on Feb. 18, according to an 8-K filing with the Securities and Exchange Commission.

Other changes include eliminating the restriction on prepayment of all or a portion of the notes and the 20% repayment premium for a fundamental change.

The company’s stock (Nasdaq: MOSY) was quoted at $1.94 on Feb. 26.

MoSys is a fabless semiconductor company based in Santa Clara, Calif.

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