By Laura Lutz
Des Moines, March 13 - Visiphor Corp. sold C$1.75 million of four-year convertible debentures to Quorum Investment Pool LP.
An initial tranche of C$800,000 has been released, and the remaining C$950,000 will be held in escrow pending shareholder approval.
The debentures were priced at par to yield 8%. The debentures are convertible into common shares at C$0.10 per share.
When Visiphor achieves certain performance targets, the conversion price will be increased to C$0.15 per share.
Vancouver, B.C.-based Visiphor develops software for business-process and database management.
| Issuer: | Visiphor Corp.
|
| Issue: | Convertible debenture
|
| Amount: | C$1.75 million
|
| Maturity: | Four years
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | C$0.10
|
| Investor: | Quorum Investment Pool LP
|
| Pricing date: | March 13
|
| Stock symbol: | TSX Venture: VIS
|
| Stock price: | C$0.085 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.
