By Devika Patel
Knoxville, Tenn., Aug. 3 - The 600 Group plc said it has arranged a £2.5 million loan. Haddeo Partners LLP will invest £810,000.
The loan is repayable in five years and carries an 8% coupon, calculated on a non-compound basis.
Investors also will receive warrants for 12.5 million shares, which are each exercisable at 20p for five years.
Proceeds will be used for business growth and to increase manufacturing capacity in Europe.
Based in Heckmondwike, England, the 600 Group is a machine tool company.
| Issuer: | 600 Group plc
|
| Issue: | Loan
|
| Amount: | £2.5 million
|
| Maturity: | Five years
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Warrants: | For 12.5 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | 20p
|
| Investors: | Haddeo Partners LLP (for £810,000)
|
| Pricing date: | Aug. 3
|
| Stock symbol: | London: SIXH
|
| Stock price: | 16p at close Aug. 3
|
| Market capitalization: | £10.23 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
