Co-Investment Fund is the investor; proceeds fund working capital
By Devika Patel
Knoxville, Tenn., April 15 - Lightning Gaming, Inc. completed a $1 million loan agreement with Co-Investment Fund II, LP on April 12, according to an 8-K filed Friday with the Securities and Exchange Commission.
The loan is convertible and carries an 8% coupon.
The investor also received warrants for 1 million shares, which are exercisable at $2.00 until April 12, 2016.
Proceeds will be used for working capital purposes.
Based in Boothwyn, Pa., Lightning Gaming is a private company that develops, manufactures, markets and sells electronic poker tables.
| Issuer: | Lightning Gaming, Inc.
|
| Issue: | Loan
|
| Amount: | $1 million
|
| Coupon: | 8%
|
| Warrants: | For 1 million shares
|
| Warrant expiration: | April 12, 2016
|
| Warrant strike price: | $2.00
|
| Investor: | Co-Investment Fund II, LP
|
| Settlement date: | April 12
|
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