Deal sells 10% two-year senior secured debentures in two tranches
By Devika Patel
Knoxville, Tenn., July 31 - First Global Data Ltd. said it completed the second and final tranche of an C$8 million private placement of 10% senior secured debentures by issuing C$4 million of series B debentures. The company issued C$4 million of series A debentures due Feb. 7, 2015 on Feb. 12.
The series B debentures mature on July 30, 2015.
The company also issued 7,111,111 shares to the investor in the second tranche and 3,076,923 in the first.
Proceeds will be used for acquisitions and to expand the company's current and post-acquisition organic growth by increasing the reserve fund.
The Toronto-based company provides online and mobile money consumer services through its wholly owned subsidiary, First Global Data Corp.
| Issuer: | First Global Data Ltd.
|
| Issue: | Series A senior secured debentures, series B senior secured debentures, 10,188,034 shares
|
| Amount: | C$8 million
|
| Maturity: | Feb. 7, 2015 (series A); July 30, 2015 (series B)
|
| Coupon: | 10%
|
| Warrants: | No
|
| Settlement dates: | Feb. 12 (for C$4 million); July 31 (for C$4 million)
|
| Stock symbol: | TSX Venture: FGD
|
| Stock price: | C$0.23 at close July 30
|
| Market capitalization: | C$21.72 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
