Note matures Nov. 14, 2016, funds working capital, capital spending
By Devika Patel
Knoxville, Tenn., Oct. 16 - MobileSmith, Inc. sold another $240,000 of 8% convertible secured subordinated notes on Oct. 15, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The notes mature on Nov. 14, 2016 and may not be prepaid without approval from noteholders representing a majority of the aggregate principal amount of the outstanding notes.
The company issued notes on substantially the same terms as the previously issued notes sold on
• Nov. 14, 2007, Aug. 12, 2008, Nov. 21, 2008, Jan. 6, 2009, Feb. 24, 2009, April 3, 2009, June 2, 2009, July 16, 2009, Aug. 26, 2009, Sept. 8, 2009, Oct. 5, 2009, Oct. 9, 2009, Nov. 6, 2009, Dec. 23, 2009, Feb. 11, 2010;
• April 1, 2010, June 2, 2010, July 1, 2010, Aug. 13, 2010, Aug. 30, 2010, Sept. 14, 2010, Sept. 30, 2010, Nov. 9, 2010, Feb. 7, 2011, March 4, 2011, April 6, 2011, May 4, 2011, Sept. 6, 2011, Oct. 11, 2011, Nov. 7, 2011;
• Dec. 14, 2011, Jan. 5, 2012, Feb. 10, 2012, March 9, 2012, April 2, 2012, May 25, 2012, June 13, 2012, July 3, 2012, Aug. 8, 2012, Sept. 7, 2012, Oct. 1, 2012, Oct. 15, 2012, Oct. 31, 2012, Nov. 14, 2012, Dec. 13, 2012;
• Jan. 7, 2013, Jan. 29, Feb. 27, April 2, April 16, May 1, May 22, June 27, July 10, July 22, Aug. 2, Sept. 3, Sept. 13 and Oct. 1.
Proceeds will be used to meet ongoing working capital and capital spending requirements.
Durham, N.C.-based MobileSmith, formerly known as Smart Online, Inc., is a provider of mobile software products for enterprise customers.
Issuer: | MobileSmith, Inc.
|
Issue: | Convertible secured subordinated note
|
Amount: | $240,000
|
Maturity: | Nov. 14, 2016
|
Coupon: | 8%
|
Call: | No
|
Pricing date: | Nov. 14, 2007
|
Settlement date: | Oct. 15
|
Stock symbol: | OTCBB: MOST
|
Stock price: | $2.50 at close Nov. 14, 2007
|
Market capitalization: | $23.86 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.