New Issue: Lightning Poker sells $2 million promissory note via private placement

By Devika Patel

Knoxville, Tenn., March 25 - Lightning Poker, Inc. sold a $2 million promissory note to SIG Strategic Investments, LLLP, the Co-Investment Fund II, LP and Stewart J. Greenebaum, LLC on March 19, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The 8% note is due June 30, 2011.

The investors also received warrants for 1 million common shares, which are exercisable at $2.00 until June 30, 2013.

Boothwyn, Pa.-based Lightning Poker is a private subsidiary of privately held Lightning Gaming, Inc., which develops, manufactures, markets, and sells electronic poker tables.

Issuer:	Lightning Poker, Inc.
Issue:	Promissory note
Amount:	$2 million
Maturity:	June 30, 2011
Coupon:	8%
Price:	Par
Yield:	8%
Warrants:	For 1 million shares
Warrant expiration:	June 30, 2013
Warrant strike price:	$2.00
Investors:	SIG Strategic Investments, LLLP, the Co-Investment Fund II, LP and Stewart J. Greenebaum, LLC
Settlement date:	March 19

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