By Devika Patel
Knoxville, Tenn., May 29 - Lithium Technology Corp. sold a €1.35 million, or $2.13 million, convertible note to Fidessa Asset Management SA in a private placement on June 30, according to an 8-K filed Monday with the Securities and Exchange Commission.
The note is convertible into common shares at $0.10 per share.
Interest accrues at 10% per annum and matures on June 29, 2011.
The convertible note will be secured by 50 million common shares.
Based in Plymouth Meeting, Pa., Lithium develops lithium-ion batteries.
| Issuer: | Lithium Technology Corp.
|
| Issue: | Convertible note
|
| Amount: | €1.35 million, or $2,132,865
|
| Maturity: | June 29, 2011
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | $0.10
|
| Warrants: | No
|
| Investor: | Fidessa Asset Management SA
|
| Settlement date: | June 30
|
| Stock symbol: | Pink Sheets: LTHU
|
| Stock price: | $0.10 at close June 30
|
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