By Sheri Kasprzak
New York, Oct. 12 - VendingData Corp. said it has received $5 million from a credit agreement with four institutional investors.
The 9% loan has a one-year term.
VendingData may request advances for up to $500,000 each from the investors, which include Lampe Conway & Co., LLC; Triage Capital Management, LP; Triage Capital Management B, LP; and Triage Overseas Fund, Ltd.
The investors also received warrants for 3 million shares, exercisable at $1.25 each through Oct. 11, 2011.
Based in Las Vegas, VendingData manufactures and distributes products for the gaming industry.
| Issuer: | VendingData Corp.
|
| Issue: | Loan
|
| Amount: | $5 million
|
| Maturity: | One year
|
| Coupon: | 9%
|
| Price: | Par
|
| Yield: | 9%
|
| Warrants: | For 3 million shares
|
| Warrant expiration: | Oct. 11, 2011
|
| Warrant strike price: | $1.25
|
| Investors: | Lampe Conway & Co., LLC; Triage Capital Management, LP; Triage Capital Management B, LP; and Triage Overseas Fund, Ltd.
|
| Settlement date: | Oct. 6
|
| Stock price: | $2.57 at close Oct. 6
|
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