Shares to be sold at 75% of lowest trading price in preceding 10 days
New York, Sept. 4 – EHouse Global, Inc. entered into an agreement for a $10 million equity line of credit with Blackbridge Capital, LLC, according to an 8-K filing with the Securities and Exchange Commission.
Shares sold under the agreement will be priced at 75% of the lowest closing bid price during the 10 trading days beginning on the first day of trading after delivery and clearing of the shares.
EHouse will have the right to sell shares with a value of up to 200% of the average trading volume during the 10 trading days prior to delivery of written notice multiplied by the lowest trading price in that period, with a cap of $208,333.
The agreement runs for two years from the date on which an S-1 registration statement for the shares becomes effective.
EHouse will pay a commitment fee of $300,000 in the form of a convertible promissory note and 10 million shares.
EHouse Global is based in San Diego and develops and markets natural, fair trade and environmentally friendly products. Through its subsidiary NutraLiquids, LLC it is offers nutraceutical vitamin, supplement and functional beverage products.
| Issuer: | EHouse Global, Inc.
|
| Issue: | Securities purchase agreement
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| Amount: | $10 million
|
| Term: | Two years
|
| Price: | 75% of the lowest closing bid price during the 10 trading days beginning on the first day of trading after delivery and clearing of the shares
|
| Warrants: | No
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| Investor: | Blackbridge Capital, LLC
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| Agreement date: | Aug. 27
|
| Stock symbol: | OTCBB: EHOS
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| Stock price: | $0.0016 at close on Sept. 3
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| Market capitalization: | $350,000
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