By Devika Patel
Knoxville, Tenn., Jan. 18 - Municipal Solutions Group, Inc. arranged a C$1 million private placement of secured convertible debentures.
The 18-month notes have a 12% coupon, payable monthly, and may be converted, at the holder's option, anytime after six months. The conversion price is C$0.25 per share.
Victoria, B.C.-based Municipal Solutions Group develops, distributes and supports business process software for local government organizations.
| Issuer: | Municipal Solutions Group, Inc.
|
| Issue: | Secured convertible debentures
|
| Amount: | C$1 million
|
| Maturity: | 18 months
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Conversion price: | C$0.25
|
| Warrants: | No
|
| Pricing date: | Jan. 18
|
| Stock symbol: | TSX Venture: MSZ
|
| Stock price: | C$0.155 at close Jan. 18
|
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