By Devika Patel
Knoxville, Tenn., March 1 - netTALK.com, Inc. raised $5 million in a private placement of series A convertible preferred stock on Wednesday, according to an 8-K filed Monday with the Securities and Exchange Commission.
The investor, Vicis Capital Master Fund, also received warrants for 20 million shares, which are exercisable at $0.50 per share.
The company and investor also modified some 12% senior secured convertible debentures' maturity dates to June 30, 2011.
Based in Miami, netTALK.com provides voice over internet protocol products and services.
| Issuer: | netTALK.com, Inc.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $5 million
|
| Shares: | 500
|
| Price: | $10,000
|
| Warrants: | For 20 million shares
|
| Warrant strike price: | $0.50
|
| Investor: | Vicis Capital Master Fund
|
| Settlement date: | Feb. 24
|
| Stock symbol: | OTCBB: NTLK
|
| Stock price: | $0.58 at close Feb. 24
|
| Market capitalization: | $5.35 million
|
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