Published on 1/22/2007 in the Prospect News PIPE Daily.
New Issue: ThinkEngine Networks receives $1.5 million loan with warrants
By Sheri Kasprzak
New York, Jan. 22 - ThinkEngine Networks, Inc. obtained a $1.5 million loan from VenCore Solutions LLC.
The 13% loan is due Feb. 10, 2010 and includes warrants for 35,000 shares.
The warrants are exercisable at $3.47 each for 10 years.
Based in Marlborough, Mass., ThinkEngine is a telecommunications services company focused on voice-activated products.
| Issuer: | ThinkEngine Networks, Inc.
|
| Issue: | Loan
|
| Amount: | $1.5 million
|
| Maturity: | Feb. 10, 2010
|
| Coupon: | 13%
|
| Price: | Par
|
| Yield: | 13%
|
| Warrants: | For 35,000 shares
|
| Warrant expiration: | 10 years
|
| Warrant strike price: | $3.47
|
| Investor: | VenCore Solutions LLC
|
| Settlement date: | Jan. 16
|
| Stock symbol: | Amex: THN
|
| Stock price: | $3.47 at close Jan. 16
|
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