By Laura Lutz
Des Moines, Jan. 25 - Metaswarm, Inc. settled a $1 million private placement of secured convertible notes, according to an 8-K filing with the Securities and Exchange Commission.
The notes mature in one year and bear interest at 14% per year. They are convertible into common stock at $0.20 per share.
Along with the notes, the investors received 10-year warrants for 5 million common shares with a strike price of $0.202 per share.
Metaswarm is an internet security company based in Pasadena, Calif.
| Issuer: | Metaswarm, Inc.
|
| Issue: | Secured convertible notes
|
| Amount: | $1 million
|
| Maturity: | One year
|
| Coupon: | 14%
|
| Price: | Par
|
| Yield: | 14%
|
| Conversion price: | $0.20
|
| Warrants: | For 5 million shares
|
| Warrant expiration: | 10 years
|
| Warrant strike price: | $0.202
|
| Settlement date: | Jan. 22
|
| Stock symbol: | Pink Sheets: MSWM
|
| Stock price: | $0.28 at close Jan. 22
|
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