By Sheri Kasprzak
New York, Dec. 19 - Fortune Management Inc. said it received €17 million from a private placement of stock and convertible debentures.
The company issued 11.2 million shares at €1.25 each to institutional investors.
A director of the company's board of directors also bought a €3 million convertible debenture. The debenture matures in three years, bears interest at 6% annually and carries a 30% conversion premium.
Based in Zug, Switzerland, Fortune acquires and establishes private equity managers and funds.
| Issuer: | Fortune Management Inc.
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| Issue: | Stock
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| Amount: | €14 million
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| Shares: | 11.2 million
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| Price: | €1.25
|
| Warrants: | No
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| Settlement date: | Dec. 19
|
| Stock price: | €1.41 at close Dec. 19
|
|
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| Issuer: | Fortune Management Inc.
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| Issue: | Convertible debenture
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| Amount: | €3 million
|
| Maturity: | Three years
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| Coupon: | 6%
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| Price: | Par
|
| Yield: | 6%
|
| Conversion premium: | 30%
|
| Settlement date: | Dec. 19
|
| Stock price: | €1.41 at close Dec. 19
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