Published on 10/25/2007 in the Prospect News PIPE Daily.
New Issue: Nature Vision sells $1 million promissory note with warrant
By Laura Lutz
Des Moines, Oct. 25 - Nature Vision, Inc. raised $1 million from a private placement of a demand promissory note and warrants with investor Richard Kiphart.
The note matures on Jan. 19, 2008 and bears interest at 15% per year. Interest is payable monthly.
Kiphart also received a warrant for 100,000 shares, exercisable at $2.21 until Oct. 19, 2009.
Nature Vision is an outdoor recreation company based in Brainerd, Minn.
| Issuer: | Nature Vision, Inc.
|
| Issue: | Demand promissory note, warrants
|
| Amount: | $1 million
|
| Maturity: | Jan. 19, 2008
|
| Coupon: | 15%
|
| Price: | Par
|
| Yield: | 15%
|
| Warrants: | For 100,000 shares
|
| Warrant expiration: | Oct. 19, 2009
|
| Warrant strike price: | $2.21
|
| Investor: | Richard Kiphart
|
| Pricing date: | Oct. 19
|
| Stock symbol: | Nasdaq: NRVN
|
| Stock price: | $2.21 at close Oct. 19
|
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