By Devika Patel
Knoxville, Tenn., March 11 - Next 1 Interactive, Inc. sold a $3.5 million promissory note on March 5 to Mark Wilton, a director of the company, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The note is due Jan. 25, 2011.
Wilton also will receive between 3.5 million and 7 million warrants, which are exercisable at $1.00 for three years.
Weston, Fla.-based Next 1 Interactive is an interactive media company whose focus is in video and media advertising delivered over internet and television platforms.
| Issuer: | Next 1 Interactive, Inc.
|
| Issue: | Secured convertible promissory note
|
| Amount: | $3.5 million
|
| Maturity: | Jan. 25, 2011
|
| Price: | Par
|
| Warrants: | Between 3.5 million and 7 million
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $1.00
|
| Investor: | Mark Wilton
|
| Settlement date: | March 5
|
| Stock symbol: | OTCBB: NXOI
|
| Stock price: | $0.66 at close March 5
|
| Market capitalization: | $21.1 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
