10% notes due March 1, 2015 sold to Michael A. Rogoff, Marvin Neuman
By Devika Patel
Knoxville, Tenn., March 12 - Feel Golf Co., Inc. settled a $100,000 private placement of 10% convertible notes on March 7, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The note matures on March 1, 2015 and may be converted into common stock at a conversion price based on 50% of the average of the five lowest intraday prices for the stock during the 20 trading days immediately preceding the conversion notice. The notes may be redeemed at a 150% premium.
Michael A. Rogoff and Marvin Neuman each invested $50,000.
Based in Salinas, Calif., Feel Golf is a manufacturer of golf clubs and reverse taper golf grips.
| Issuer: | Feel Golf Co., Inc.
|
| Issue: | Convertible notes
|
| Amount: | $100,000
|
| Maturity: | March 1, 2015
|
| Coupon: | 10%
|
| Conversion price: | 50% of the average of the five lowest intraday prices for the stock during the 20 trading days immediately preceding the conversion notice
|
| Call: | 150% premium
|
| Warrants: | No
|
| Investors: | Michael A. Rogoff (for $50,000) and Marvin Neuman (for $50,000)
|
| Settlement date: | March 7
|
| Stock symbol: | OTCBB: FEEL
|
| Stock price: | $0.01 at close March 6
|
| Market capitalization: | $1.17 million
|
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