By Devika Patel
Knoxville, Tenn., April 5 - Juma Technology Corp. sold a $2 million 10% convertible bridge note and a series A warrant to purchase 6,666,666 common shares to Vision Opportunity Master Fund, Ltd. on March 31, according to an 8-K filed Monday with the Securities and Exchange Commission.
The note matures May 21, 2010 and has an initial conversion price of $0.15 per common share.
The warrant is exercisable at $0.15 until March 31, 2015.
Proceeds will be used for general corporate purposes.
Based in Farmingdale, N.Y., Juma provides voice, data and video applications for businesses.
| Issuer: | Juma Technology Corp.
|
| Issue: | Convertible bridge note
|
| Amount: | $2 million
|
| Maturity: | May 21, 2010
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | $0.15
|
| Warrant: | For 6,666,666 shares
|
| Warrant expiration: | March 31, 2015
|
| Warrant strike price: | $0.15
|
| Investor: | Vision Opportunity Master Fund, Ltd.
|
| Settlement date: | March 31
|
| Stock symbol: | OTCBB: JUMT
|
| Stock price: | $0.14 at close March 31
|
| Market capitalization: | $6.27 million
|
© 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.
