Investor Alan Aaron gets 100,000 shares as additional consideration
By Angela McDaniels
Tacoma, Wash., Sept. 11 - Naked Brand Group Inc. issued a $150,000 promissory note to Alan Aaron, who also received 100,000 shares of common stock.
The note matures Jan. 6, 2014 and carries a 15% interest rate, according to an 8-K filing with the Securities and Exchange Commission.
The note will be repaid in eight twice-monthly payments. Each payment will be $18,750 of principal and $2,812.50 of interest.
The company may repay the note at any time before maturity without penalty.
On Sept. 9, the company repaid $166,667 of its $500,000 promissory note with JMJ Financial, representing the full amount due on the note.
The undergarment manufacturer for men is based in Abbotsford, B.C.
| Issuer: | Naked Brand Group Inc.
|
| Issue: | Promissory note, common stock
|
| Warrants: | No
|
| Investor: | Alan Aaron
|
| Pricing date: | Sept. 3
|
| Stock symbol: | OTCBB: NAKD
|
| Stock price: | $0.54 at close Sept. 11
|
| Market capitalization: | $17.23 million
|
|
|
| Note
|
| Amount: | $150,000
|
| Maturity: | Jan. 6, 2014
|
| Coupon: | 15%
|
| Price: | Par
|
| Call option: | Yes
|
| Settlement date: | Sept. 6
|
|
|
| Common stock
|
| Shares: | 100,000
|
| Settlement date: | Sept. 10
|
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