By Sheri Kasprzak
Atlanta, Jan. 31 - RCG Cos. Inc. said it has closed a private placement of notes for $1,098,500.
The company sold secured promissory notes to five accredited investors.
The notes bear interest at 7% annually and are payable in one lump sum in six months. The maturity of the note may be extended.
The investors also received warrants for 549,250 shares at $1.25 each for three years.
RCG, based in Charlotte, N.C., operates travel and technology services companies.
| Issuer: | RCG Cos. Inc.
|
| Issue: | Secured promissory notes
|
| Amount: | $1,098,500
|
| Maturity: | Six months
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Warrants: | For 549,250 shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $1.25
|
| Settlement date: | Jan. 25
|
| Stock price: | $1.31 at close Jan. 25
|
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