DataLogic drops conversion price on first $950,000 in principal of convertibles

By Sheri Kasprzak

New York, Aug. 19 - DataLogic International Inc. said it has reduced the conversion price on the first $950,000 in principal of a $3 million convertible term note issued earlier this year to Laurus Master Fund, Ltd.

The conversion price for any principal of the note converted after Aug. 17 will be $0.32. After the first $950,000 in principal has been converted, the conversion price will revert to $0.60.

The conversion price of the note had originally been $0.66.

The note matures June 25, 2007 and bears interest at Prime rate plus 200 basis points.

Based in Irvine, Calif., DataLogic is an information technology and communications company.

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