By Devika Patel
Knoxville, Tenn., July 23 - Invu plc said it will raise £1.5 million in a private placement of shares and 7% convertible loan notes.
The company will sell 50 million ordinary shares at 2p apiece for £1 million.
The £500,000 in notes are due Aug. 12, 2014.
Each £1.00 note is convertible into 40 ordinary shares at a conversion price of 2.5p.
Proceeds will be used to repay the company's current bank facilities and to provide necessary working capital during 2009.
Based in Blisworth, England, Invu designs and sells computer software for the electronic management of information and documents.
| Issuer: | Invu plc
|
| Issue: | Ordinary shares, convertible loan notes
|
| Amount: | £1.5 million
|
| Warrants: | No
|
| Pricing date: | July 23
|
| Stock symbol: | London: INVU
|
| Stock price: | 2.38p at close July 23
|
| Market capitalization: | £2.69 million
|
|
|
| Shares
|
| Amount: | £1 million
|
| Shares: | 50 million
|
| Price: | 2p
|
|
|
| Notes
|
| Amount: | £500,000
|
| Maturity: | Aug. 12, 2014
|
| Coupon: | 7%
|
| Price: | Par of £1.00
|
| Yield: | 7%
|
| Conversion price: | 2.5p
|
© 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.
