New Issue: TWL wraps $4 million placement of convertible debentures

By Sheri Kasprzak

New York, March 20 - TWL Corp. closed a $4 million private placement of senior secured convertible debentures with Laurus Master Fund, Ltd.

The 15% debentures are due March 31, 2011 and are convertible into common shares at $0.03 each.

The investors received warrants for 53,333,333 shares, exercisable at $0.03 each for six months.

TWL, based in Carrollton, Texas, develops learning and certification training services for corporations.

Issuer:	TWL Corp.
Issue:	Senior secured convertible debentures
Amount:	$4 million
Maturity:	March 31, 2011
Coupon:	15%
Price:	Par
Yield:	15%
Conversion price:	$0.03
Warrants:	For 53,333,333 shares
Warrant expiration:	Six months
Warrant strike price:	$0.03
Investor:	Laurus Master Fund, Ltd.
Settlement date:	March 13
Stock symbol:	OTCBB: TWLP
Stock price:	$0.04 at close March 13

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.