By Sheri Kasprzak
New York, July 9 - Internet Commerce Corp. completed a $10 million private placement of senior secured convertible bridge notes with York Capital Management, LP.
The notes bear interest at Prime rate flat and are due Sept. 1, 2007. The conversion price of the notes could not be determined by press time Monday.
Proceeds will be used for the acquisition of equity securities and for working capital.
Based in Norcross, Ga., Internet Commerce provides services for the e-commerce business-to-business sector.
| Issuer: | Internet Commerce Corp.
|
| Issue: | Senior secured convertible bridge notes
|
| Amount: | $10 million
|
| Maturity: | Sept. 1, 2007
|
| Coupon: | Prime rate
|
| Warrants: | No
|
| Investor: | York Capital Management, LP
|
| Settlement date: | July 2
|
| Stock symbol: | Nasdaq: ICCA
|
| Stock price: | $3.20 at close July 2
|
© 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.
