Debenture converts into common stock at 10% discount
By Angela McDaniels
Tacoma, Wash., July 21 - Interdom, Corp. sold a $2 million convertible debenture to Unlimited Trade Inc. on July 18. The convertible carries a 5% coupon and matures July 18, 2013.
The debenture can be converted into common stock at a conversion price equal to 10% below the fair market value of the common stock at the time of conversion. This will be calculated according to the average closing market price for the five business days preceding the conversion date.
If there have been no sales of the company's stock for five days, the conversion price will be either the last trade of the stock, $1.00 or a price that is agreed upon by the company and the holder of the debenture.
The company's common shares are quoted on the OTC Bulletin Board. Its initial public offering was in May 2010, and no shares have traded yet.
Interdom is in the business of real estate consulting and evaluation. It is based in Reno, Nev.
| Issuer: | Interdom, Corp.
|
| Issue: | Convertible debenture
|
| Amount: | $2 million
|
| Maturity: | July 18, 2013
|
| Coupon: | 5%
|
| Conversion price: | 10% discount to fair market value
|
| Warrants: | No
|
| Investor: | Unlimited Trade Inc.
|
| Settlement date: | July 18
|
| Stock symbol: | OTCBB: ITRD
|
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