By Laura Lutz
Des Moines, Jan. 4 - Incentra Solutions, Inc. upsized the amount available under its private placement of promissory notes with Laurus Master Fund Ltd. to $20 million from $15 million, according to an 8-K filing with the Securities and Exchange Commission.
Incentra originally issued $10 million of the notes on Feb. 6, 2006.
In connection with the increase, Laurus received a warrant for 350,000 shares, exercisable at $0.01 per share until Dec. 28, 2027.
The interest rate on the note was also amended to 10%. It was previously set at Prime rate plus 100 basis points.
The note may be prepaid without penalty.
Calliope Capital Corp., an affiliate of Laurus, also agreed to defer principal payments in connection with a $12 million note that was issued in July 2007. The payments will now begin on June 1 instead of on Feb. 1.
Based in Boulder, Colo., Incentra is a data management company focused on the broadcasting and information technology sector.
| Issuer: | Incentra Solutions, Inc.
|
| Issue: | Promissory note
|
| Amount: | $20 million (increased from $15 million)
|
| Maturity: | July 31, 2010
|
| Coupon: | 10%
|
| Price: | Par
|
| Investor: | Laurus Master Fund Ltd.
|
| Warrants: | For 350,000 shares
|
| Warrant expiration: | Dec. 28, 2027
|
| Warrant strike price: | $0.01
|
| Settlement date: | Feb. 6, 2006 (for $10 million)
|
| Upsized: | Dec. 28, 2007
|
| Stock symbol: | OTCBB: ICNS
|
| Stock price: | $1.10 at close Feb. 6, 2006; $0.95 at close Dec. 28, 2007
|
© 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.
