Digital Development plans $3 million sale of convertibles, preferreds

Securities expected to be sold at $10,000 apiece to Ironridge Media

By Devika Patel

Knoxville, Tenn., Nov. 13 - Digital Development Group Corp. will sell up to $3 million of convertible subordinated debentures and series A preferred stock to Ironridge Media Co., according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal priced on Nov. 6.

The securities will be sold at $10,000 per debenture or preferred. The securities may be redeemed after seven years.

The Santa Monica, Calif., company provides a backend technological service to enable content providers to deliver their content across multiple platforms using existing internet protocol services.

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