By Devika Patel
Knoxville, Tenn., March 25 - Environmental Solutions Worldwide Inc. completed a $3 million convertible debenture financing on March 19, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The 9% debentures are convertible into common shares at an initial conversion price of $0.50 per share. They mature in three years.
Based in Telford, Pa., Environmental Solutions develops pollution-control products for the automotive and industrial markets.
| Issuer: | Environmental Solutions Worldwide Inc.
|
| Issue: | Convertible debentures
|
| Amount: | $3 million
|
| Maturity: | Three years
|
| Coupon: | 9%
|
| Price: | Par
|
| Yield: | 9%
|
| Conversion price: | $0.50
|
| Warrants: | No
|
| Settlement date: | March 19
|
| Stock symbol: | OTCBB: ESWW
|
| Stock price: | $0.59 at close March 19
|
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