By Sheri Kasprzak
New York, April 28 - net mobile AG said it has completed two private placements of convertible bonds totaling €15,134,000.
The two-year bonds are convertible into a total of 2,162,000 common shares at €7.00 each.
Proceeds will be used for the expansion of the company's international market presence.
VEM Aktienbank AG was the placement agent.
Located in Dusseldorf, Germany, net mobile is a national communications carrier for Germany, Austria, Switzerland, the Netherlands and the United States.
| Issuer: | net mobile AG
|
| Issue: | Convertible bonds
|
| Amount: | €15.13 million
|
| Term: | Two years
|
| Conversion ratio: | Into 2,162,000 common shares
|
| Conversion price: | €7.00
|
| Warrants: | No
|
| Placement agent: | VEM Aktienbank AG
|
| Settlement date: | April 28
|
| Stock symbol: | Frankfurt: N1M
|
| Stock price: | €7.88 at close April 28
|
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