By Sheri Kasprzak
New York, July 6 - eGain Communications Corp. settled a $2 million private placement of subordinated secured promissory notes.
The zero coupon notes are due March 31, 2009. The notes were sold to chief executive officer Ashutosh Roy.
The investors also received warrants for 333,333 shares, exercisable at $1.20 each for three years.
Connected to the agreement, the company received an extension on $7.048 million in notes held by Roy. The notes will now be due March 31, 2009.
eGain develops customer service and contact center software and is based in Mountain View, Calif.
| Issuer: | eGain Communications Corp.
|
| Issue: | Subordinated secured promissory notes
|
| Amount: | $2 million
|
| Maturity: | March 31, 2009
|
| Coupon: | 0%
|
| Warrants: | For 333,333 shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $1.20
|
| Investor: | Ashutosh Roy
|
| Settlement date: | June 29
|
| Stock symbol: | OTCBB: EGAN
|
| Stock price: | $1.00 at close June 29
|
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