By Sheri Kasprzak
Atlanta, March 9 - Rood Testhouse International NV said it has wrapped a private placement for €1 million.
The company sold convertible subordinated notes to professional investors.
The notes bear interest at 4.5% annually and are convertible into common stock at €0.84 each. The notes mature in 2012.
The notes may be redeemed at par value after Jan. 1, 2008 if its share price exceeds 130% of the conversion price for 30 consecutive trading days.
Informal Capital Network BV was the placement agent.
Based in Noerdlingen, Germany, Rood is a software and hardware developer. It plans to use the proceeds for external growth in China and Germany.
| Issuer: | Rood Testhouse International NV
|
| Issue: | Convertible subordinated notes
|
| Amount: | €1 million
|
| Maturity: | 2012
|
| Coupon: | 4.5%
|
| Price: | Par
|
| Yield: | 4.5%
|
| Conversion price: | €0.84
|
| Call: | May be redeemed at par value after Jan. 1, 2008 if stock exceeds 130% of conversion price for 30 trading days
|
| Warrants: | No
|
| Placement agent: | Informal Capital Network BV
|
| Settlement date: | March 8
|
| Stock price: | €0.59 at close March 7
|
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