NXT Nutritionals revises terms of original issue discount notes

By Devika Patel

Knoxville, Tenn., Sept. 2 - NXT Nutritionals Holdings Inc. negotiated an agreement with the holders of about 87% of the company's original issue discount senior secured notes on Sept. 1, according to an 8-K filed Thursday with the Securities and Exchange Commission.

Under the agreement, the company amended the notes so that the monthly redemptions will now begin on Dec. 1, and the notes' maturity date was extended to Aug. 1, 2011.

The company may now pay the monthly redemption in common stock, even if the monthly redemption price is less than $0.40. In addition, the notes' conversion price and the exercise price of the related warrants were both reduced to $0.40 per share.

NXT Nutritional is a Holyoke, Mass.-based developer and marketer of proprietary, patent-pending healthy alternative sweeteners, food and beverage products.

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