By Devika Patel
Knoxville, Tenn., June 9 - Infotech Global, Inc. sold a $1.25 million convertible note to Infinity Capital Group, Inc. on Monday, according to an 8-K filed by the investor with the Securities and Exchange Commission on Tuesday.
The 7% note is due in 18 months. It is convertible into 2.75 million common shares.
Infinity also received warrants for 1.5 million shares. The warrants are exercisable at $0.75.
Infotech Global is a private health-care information technology company based in Piscataway, N.J.
| Issuer: | Infotech Global, Inc.
|
| Issue: | Convertible note
|
| Amount: | $1.25 million
|
| Maturity: | 18 months
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Conversion ratio: | Into 2.75 million shares
|
| Warrants: | For 1.5 million shares
|
| Warrant strike price: | $0.75
|
| Investor: | Infinity Capital Group, Inc.
|
| Settlement date: | June 8
|
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