By Sheri Kasprzak
Atlanta, March 15 - VendingData Corp. said it has closed a private placement for $12 million.
The company had previously raised $10 million in senior secured convertible notes due February 2008. The company also raised an additional $2 million in notes due March 2008.
The notes bear interest at 10% annually. Up to half of the remaining principal and unpaid interest of the notes is convertible into common shares at $1.65 each upon maturity.
Based in Las Vegas, VendingData manufactures and distributes products for the gaming industry.
| Issuer: | VendingData Corp.
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| Issue: | Senior secured convertible notes
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| Amount: | $12 million
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| Maturity: | February 2008 (for $10 million); March 2008 (for $2 million)
|
| Coupon: | 10%
|
| Price: | Par
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| Yield: | 10%
|
| Conversion price: | $1.65
|
| Warrants: | No
|
| Settlement date: | March 15
|
| Stock price: | $1.99 at close March 14
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