Telanetix revises terms of debentures

By Devika Patel

Knoxville, Tenn., Dec. 15 - Telanetix, Inc. has amended the terms of debentures sold in a private placement that settled in June and August, according to an 8-K filed Monday with the Securities and Exchange Commission.

Under the amendments, arranged on Dec. 11, the debentures will no longer pay 12% monthly interest. Interest is now payable quarterly at the rate of 0% per annum from Oct. 1 until Sept. 30, 2009, 13.5% per annum from Oct. 1, 2009 until Sept. 30, 2012 and 18% per annum from Oct. 1, 2012 until maturity.

The conversion price and exercise price of the debentures and accompanying warrants also was reduced to $0.40.

Telanetix is a video conferencing company based in San Diego.

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