RiT amends terms of its $10 million convertible loan with Stins Coman

Companies agree to extend redemption period by one year to June 2011

By Devika Patel

Knoxville, Tenn., April 18 - RiT Technologies Ltd. amended a $10 million convertible unsecured loan on April 14, according to an 8-K filed Monday with the Securities and Exchange Commission. The 2.47% three-year loan was negotiated with Stins Coman Inc. on June 19, 2009.

The loan originally could not be called after June 2010, but the redemption period was initially extended by one year until June 11, 2011 in a loan amendment, which settled in February 2010.

On April 14, the parties agreed to extend the term by an additional year to June 11, 2012.

Based in Tel Aviv, Israel, RiT Technologies is a producer and supplier of infrastructure management and asset management solutions for improved control, utilization and maintenance of networks and datacenters.

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