By Sheri Kasprzak
Atlanta, Nov. 22 - QuietTiger Inc. said Monday it has received $5 million in an equity line of credit from Double U Master Fund LP.
The line can be drawn upon at any time for two years and the company will offer Double U Master Fund LP shares at 93% of the current market price, but at no less than $0.25 per share.
QuietTiger is a Phoenix-based provider of security products for the music and entertainment industries. The company plans to use the equity line to expedite negotiations with entertainment companies for its MediaMax CD copy management product.
| Issuer: | QuietTiger Inc.
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| Issue: | Equity line of credit
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| Amount: | $5 million
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| Tenor: | Two years
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| Price: | 93% of the current market price, no less than $0.25 per share
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| Warrants: | No
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| Investor: | Double U Master Fund LP
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| Announcement date: | Nov. 22
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| Stock price: | $0.047 at close Nov. 22
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