Senior promissory note will convert at per-share price of public offer
By Devika Patel
Knoxville, Tenn., March 15 - FusionTech, Inc. settled a private placement of 8% senior convertible promissory notes on March 9, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal sold $1.1 million in notes.
The 180-day notes will convert to common shares at the per-share price of a planned public offering.
Based in Dalian, China, FusionTech makes clean technology industrial machinery used in the coking process. Its stock is not active.
| Issuer: | FusionTech, Inc.
|
| Issue: | Senior convertible promissory notes
|
| Amount: | $1.1 million
|
| Maturity: | 180 days
|
| Coupon: | 8%
|
| Conversion price: | The per-share price of a planned public offering
|
| Warrants: | No
|
| Settlement date: | March 9
|
| Stock symbol: | OTCBB: ZPNPD
|
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