By Devika Patel
Knoxville, Tenn., Feb. 18 - ImageWare Systems, Inc. settled a $5 million private placement of a secured promissory note with BET Funding LLC on Feb. 12, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The 5% note is due June 30, 2010.
BET Funding also received a warrant for 4.5 million shares, exercisable at $0.50 until Feb. 12, 2013.
San Diego-based ImageWare provides software-based identity management services.
| Issuer: | ImageWare Systems, Inc.
|
| Issue: | Secured promissory notes
|
| Amount: | $5 million
|
| Maturity: | June 30, 2010
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5%
|
| Warrants: | For 4.5 million shares
|
| Warrant expiration: | Feb. 12, 2013
|
| Warrant strike price: | $0.50
|
| Investor: | BET Funding LLC
|
| Settlement date: | Feb. 12
|
| Stock symbol: | Pink Sheets: IWSY
|
| Stock price: | $0.19 at close Feb. 12
|
| Market capitalization: | $3.27 million
|
© 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.
