Published on 5/15/2013 in the Prospect News PIPE Daily.
Newtown Lane Marketing wraps $100,000 offering of 7% convertibles
Two-year note sold to Ironbound Partners, company says in 8-K filing
By Devika Patel
Knoxville, Tenn., May 15 - Newtown Lane Marketing, Inc. sold a $100,000 two-year convertible promissory note to Ironbound Partners Fund, LLC on May 14, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The 5% note is convertible into common shares.
The Chatham, N.J., company does not have significant operations.
Issuer: | Newtown Lane Marketing, Inc.
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Issue: | Convertible promissory note
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Amount: | $100,000
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Maturity: | Two years
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Coupon: | 5%
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Warrants: | No
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Investor: | Ironbound Partners Fund, LLC
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Settlement date: | May 14
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Stock symbol: | OTCBB: NTWN
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