Company to sell 4% unsecured notes to fund general corporate purposes
By Devika Patel
Knoxville, Tenn., June 14 - EuroSite Power Inc. said it will raise $4 million by selling 4% senior unsecured convertible notes.
The note matures June 14, 2015 and is convertible into common stock at an initial conversion rate of 1,000 shares per $1,000 of notes.
Proceeds will be used in connection with the development and installation of current and new energy systems, business development and for general corporate purposes.
The London company distributes, owns and operates clean, on-site energy systems that produce electricity, hot water, heat and cooling in the United Kingdom and Europe.
| Issuer: | EuroSite Power Inc.
|
| Issue: | Senior unsecured convertible notes
|
| Amount: | $4 million
|
| Maturity: | June 14, 2015
|
| Coupon: | 4%
|
| Conversion rate: | 1,000 shares per $1,000 of notes
|
| Warrants: | No
|
| Pricing date: | June 14
|
| Stock symbol: | OTCBB: EUSP
|
| Stock price: | $0.51 at close June 13
|
| Market capitalization: | $28.94 million
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