1% convertible promissory note due April 17, 2015 sold via offering
By Devika Patel
Knoxville, Tenn., Oct. 30 – High Performance Beverages Co. sold $500,000 of convertible promissory notes on Oct. 17, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The 1% note is due on April 17, 2015 and may be converted to common stock at a price equal to 56% of the lowest volume-weighted average price of the stock for the five trading days preceding conversion.
The Cave Creek, Ariz., company manufactures and distributes a line of sport performance beverages.
| Issuer: | High Performance Beverages Co.
|
| Issue: | Convertible promissory note
|
| Amount: | $500,000
|
| Maturity: | April 17, 2015
|
| Coupon: | 1%
|
| Conversion price: | 56% of the lowest price of the stock for the five trading days preceding conversion
|
| Warrants: | No
|
| Settlement date: | Oct. 17
|
| Stock symbol: | OTCBB: TBEV
|
| Market capitalization: | $128,810
|
|
|
© 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.
