Units sold in offering consist of 12% convertible debentures, warrants
By Devika Patel
Knoxville, Tenn., Nov. 10 - Nytex Energy Holdings, Inc. completed a private placement of units on Oct. 12, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The $2.15 million offering priced Aug. 13.
The company sold units of a $100,000 12% convertible debenture and warrants for 20,000 common shares at $100,000 apiece.
The debenture matures in 180 days and is convertible at $1.50 per common share. Each warrant is exercisable at $2.00 for three years.
The private energy company is based in Dallas.
| Issuer: | Nytex Energy Holdings, Inc.
|
| Issue: | Units of a $100,000 12% convertible debenture and warrants for 20,000 shares
|
| Amount: | $2.15 million
|
| Price: | $100,000
|
| Warrants: | Warrants for 20,000 shares per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $2.00
|
| Pricing date: | Aug. 13
|
| Settlement date: | Oct. 12
|
|
|
| Debenture
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| Maturity: | 180 days
|
| Coupon: | 12%
|
| Price: | Par of $100,000
|
| Yield: | 12%
|
| Conversion price: | $1.50
|
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