Kifin invests in company via three-year 5% loan that converts to stock
By Devika Patel
Knoxville, Tenn., July 2 - Fitbug Holdings plc said it settled a 5% convertible loan for £1 million. Kifin Ltd. was the investor.
The loan matures in three years and is convertible into 66,666,667 ordinary shares at 1.5p, an 8.7% premium to the June 30 closing share price of 1.38p.
The provider of online personal health and well-being services is based in London.
| Issuer: | Fitbug Holdings plc
|
| Issue: | Convertible loan facility
|
| Amount: | £1 million
|
| Maturity: | Three years
|
| Coupon: | 5%
|
| Conversion price: | 1.5p
|
| Conversion ratio: | Into 66,666,667 ordinary shares
|
| Warrants: | No
|
| Investor: | Kifin Ltd.
|
| Settlement date: | July 2
|
| Stock symbol: | London: ACU
|
| Stock price: | 1.38p at close June 30
|
| Market capitalization: | £2.2 million
|
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