New Issue: Perf sells $2.78 million of 10% convertible debentures, warrants

By Devika Patel

Knoxville, Tenn., May 16 - Perf Holdings, Inc. took in $2.78 million from a private placement of 10% senior secured convertible debentures and warrants on May 13, according to an 8-K filed Friday with the Securities and Exchange Commission.

The debentures are initially convertible at $0.75 per share. They mature on May 13, 2011.

The investors also received warrants for 3.7 million common shares, exercisable at $1.00 for five years.

vFinance Investments, Inc. was the agent.

Chapel Hill, N.C.-based Perf is a start-up private company with no operations.

Issuer:	Perf Holdings, Inc.
Issue:	Senior secured convertible debentures, warrants
Amount:	$2,775,000
Maturity:	May 13, 2011
Coupon:	10%
Price:	Par
Yield:	10%
Conversion price:	$0.75
Warrants:	For 3.7 million shares
Warrant expiration:	Five years
Warrant strike price:	$1.00
Agent:	vFinance Investments, Inc.
Settlement date:	May 13

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