By Devika Patel
Knoxville, Tenn., July 11 - Nature Vision, Inc. took in $1 million from a private placement of a demand promissory note with investor Richard Kiphart on July 8, according to an 8-K filed Friday with the Securities and Exchange Commission.
The note matures on June 30, 2010 and bears interest at 15% per year. Interest is payable monthly.
This new note replaces an earlier note issued to Kiphart in October 2007.
Kiphart also received a warrant for 100,000 shares, exercisable at $1.31 until June 30, 2013.
Nature Vision is an outdoor recreation company based in Brainerd, Minn.
| Issuer: | Nature Vision, Inc.
|
| Issue: | Demand promissory note, warrants
|
| Amount: | $1 million
|
| Maturity: | June 30, 2010
|
| Coupon: | 15%
|
| Price: | Par
|
| Yield: | 15%
|
| Warrants: | For 100,000 shares
|
| Warrant expiration: | June 30, 2013
|
| Warrant strike price: | $1.31
|
| Investor: | Richard Kiphart
|
| Pricing date: | July 8
|
| Stock symbol: | Nasdaq: NRVN
|
| Stock price: | $1.31 at close July 8
|
© 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.
