By Devika Patel
Knoxville, Tenn., July 2 - eGain Communications Corp. arranged a $3 million revolving line of credit with Bridge Bank, NA on June 27, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The loan carries a coupon equal to Prime plus 50 basis points.
The bank also received a warrant for up to 73,889 common shares, exercisable at $0.90 until June 24, 2011.
eGain, based in Sunnyvale, Calif., is a provider of customer service and contact center software that enables companies to build customer interaction hubs.
| Issuer: | eGain Communications Corp.
|
| Issue: | Revolving line of credit
|
| Amount: | $3 million
|
| Coupon: | Prime plus 50 bps
|
| Warrants: | For 73,889 shares
|
| Warrant expiration: | June 24, 2011
|
| Warrant strike price: | $0.90
|
| Investor: | Bridge Bank, NA
|
| Settlement date: | June 27
|
| Stock symbol: | OTCBB: EGAN
|
| Stock price: | $0.77 at close June 27
|
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