By Sheri Kasprzak
New York, Nov. 28 - Hollywood Media Inc. said it has completed a private placement of senior unsecured non-convertible notes for $7 million.
The notes are due Nov. 23, 2006 and bear interest at 8% annually.
The institutional investors purchasing the notes received warrants for 700,000 shares, exercisable at $4.29 each for five years.
Based in Boca Raton, Fla., Hollywood Media provides entertainment-related content to businesses in the internet, media and entertainment sector.
| Issuer: | Hollywood Media Inc.
|
| Issue: | Senior unsecured notes
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| Amount: | $7 million
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| Maturity: | Nov. 23, 2006
|
| Coupon: | 8%
|
| Price: | Par
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| Yield: | 8%
|
| Warrants: | For 700,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $4.29
|
| Settlement date: | Nov. 23
|
| Stock price: | $4.35 at close Nov. 23
|
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