By Devika Patel
Knoxville, Tenn., Oct. 1 - netTALK.com, Inc. raised $1.1 million in a private placement of 12% senior secured convertible debentures on Sept. 25, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The debentures are convertible into 4.4 million common shares at $0.25 per share.
The debentures were accompanied by warrants for 4.4 million shares, which are exercisable at $0.50 per share.
Midtown Partners & Co., LLC was the agent.
Based in Miami, Fla., netTALK.com provides voice-over internet protocol products and services.
| Issuer: | netTALK.com, Inc.
|
| Issue: | Senior secured convertible debentures
|
| Amount: | $1.1 million
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Conversion price: | $0.25
|
| Conversion ratio: | Into 4.4 million shares
|
| Warrants: | For 4.4 million shares
|
| Warrant strike price: | $0.50
|
| Agent: | Midtown Partners & Co., LLC
|
| Settlement date: | Sept. 25
|
| Stock symbol: | OTCBB: NTLK
|
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