New Issue: Universal Food raises $3.15 million from convertible notes

By Sheri Kasprzak

New York, June 26 - Universal Food & Beverage Co. concluded a $3.15 million private placement of senior secured convertible notes.

The 14% notes are due June 30, 2007 and are convertible into common shares at $0.10 each.

The investors received warrants for 17,420,850 shares, exercisable at $0.01 each through June 22, 2011.

Based in St. Charles, Ill., Universal manufactures food and beverage products.

Issuer:	Universal Food & Beverage Co.
Issue:	Senior secured convertible notes
Amount:	$3.15 million
Maturity:	June 30, 2007
Coupon:	14%
Price:	Par
Yield:	14%
Conversion price:	$0.10
Warrants:	For 17,420,850 shares
Warrant expiration:	June 22, 2011
Warrant strike price:	$0.01
Settlement date:	June 22
Stock symbol:	OTCBB: UFBVE
Stock price:	$0.08 at close June 22

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