Each series E preferred will convert to 50 common shares
By Devika Patel
Knoxville, Tenn., May 1 - Halo Cos. Inc. completed an $100,000 initial tranche of a $1 million private placement of series E convertible preferred stock on April 30, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The preferreds, sold at $10.00 apiece, are convertible into 50 common shares apiece.
Halo is an Allen, Texas, distressed asset services company.
| Issuer: | Halo Cos. Inc.
|
| Issue: | Series E convertible preferred stock
|
| Amount: | $1 million
|
| Price: | $10.00
|
| Conversion ratio: | Into 50 common shares (per preferred)
|
| Warrants: | No
|
| Settlement date: | April 30 (for $100,000)
|
| Stock symbol: | Pink Sheets: HALN
|
| Stock price: | $0.99 at close April 27
|
| Market capitalization: | $64.92 million
|
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