By Sheri Kasprzak
New York, July 5 - FemOne, Inc. said it has wrapped a private placement for $1.5 million.
The company sold 8% callable secured convertible notes, which mature in three years and are convertible into common shares at the lesser of the three lowest intraday trading prices 20 trading days before conversion or $0.40 each.
The investors also received warrants for 44 million shares, exercisable at $0.25 each for five years.
The proceeds will be used for business operations and expansion.
Based in Carlsbad, Calif., FemOne is a marketing company.
| Issuer: | FemOne, Inc.
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| Issue: | Callable secured convertible notes
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| Amount: | $1.5 million
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| Maturity: | Three years
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| Coupon: | 8%
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| Price: | Par
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| Yield: | 8%
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| Conversion price: | The lesser of the three lowest intraday trading prices 20 trading days before conversion or $0.40
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| Warrants: | For 44 million shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.25
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| Settlement date: | July 5
|
| Stock price: | $0.17 at close July 1
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