New Issue: New Horizons concludes $4 million note offering with warrants

By Sheri Kasprzak

New York, July 25 - New Horizons Worldwide, Inc. completed a $4 million private placement of notes with warrants.

The 10% notes were purchased by Camden Partners Strategic III, LLC; Camden Partners Strategic Fund III, LP; Camden Partners Strategic Fund III-A, LP; George S. Rich; and Alkhaleej Training and Education Corp.

The notes are due July 19, 2009.

The investors received series A warrants for 2 million shares, exercisable at $1.50 each through July 19, 2011. The investors also received series B warrants for 666,667 shares, exercisable at $1.50 each through July 19, 2011. The series B warrants are not exercisable until Aug. 15, 2007.

Based in Anaheim, Calif., New Horizons operates a chain of computer training centers.

Issuer:	New Horizons Worldwide, Inc.
Issue:	Notes
Amount:	$4 million
Maturity:	July 19, 2009
Coupon:	10%
Price:	Par
Yield:	10%
Warrants:	Series A warrants for 2 million shares, series B warrants for 666,667 shares
Warrant expiration:	July 19, 2011
Warrant strike price:	$1.50 for series A warrants, $1.50 for series B warrants
Investors:	Camden Partners Strategic III, LLC; Camden Partners Strategic Fund III, LP; Camden Partners Strategic Fund III-A, LP; George S. Rich; and Alkhaleej Training and Education Corp.
Settlement date:	July 19
Stock symbol:	Pink Sheets: NEWH
Stock price:	$0.80 at close July 19

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