Published on 8/17/2006 in the Prospect News PIPE Daily.
New Issue: Veridien to raise up to $1 million from sale of convertibles
By Sheri Kasprzak
New York, Aug. 17 - Veridien Corp. pocketed $500,000 from a private placement of convertible debentures and expects to raise another $500,000.
The 8% debentures are due in three years and are convertible into common shares at $0.04 each.
Veridien, based in Pinellas Park, Fla., develops antiseptics and disinfectants.
| Issuer: | Veridien Corp.
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| Issue: | Convertible debentures
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| Amount: | $1 million
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| Maturity: | Three years
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| Coupon: | 8%
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| Price: | Par
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| Yield: | 8%
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| Conversion price: | $0.04
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| Warrants: | No
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| Settlement date: | Aug. 12 (for $500,000)
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| Stock symbol: | OTCBB: VRDE
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| Stock price: | $0.04 at close Aug. 12
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