Deal sells $100,000 secured notes with 30,000 common shares in units
By Devika Patel
Knoxville, Tenn., Jan. 7 – Youngevity International, Inc. took in $5.05 million in a private placement of units on Jan. 6, according to an 8-K filing with the Securities and Exchange Commission.
The notes were sold in units of one $100,000 secured note and 30,000 common shares.
The sale is part of a private placement offering for up to $6 million principal amount of notes and 1.8 million common shares. The offering expires on Jan. 30.
The 8% notes mature in one year.
The company intends to invest the proceeds in its wholly owned subsidiary, CLR Roasters, LLC, to purchase Nicaragua green coffee.
The coffee company is based in Chula Vista, Calif.
| Issuer: | Youngevity International, Inc.
|
| Issue: | Units of $100,000 of secured notes, 30,000 common shares
|
| Amount: | Up to $6 million of notes, 1.8 million shares
|
| Maturity: | One year
|
| Coupon: | 8%
|
| Call: | At par
|
| Warrants: | No
|
| Pricing date: | Jan. 6
|
| Settlement dates: | Jan. 6 ($5.05 million); Jan. 30
|
| Stock symbol: | OTCBB: YGYI
|
| Stock price: | $0.23 at close Jan. 5
|
| Market capitalization: | $107.67 million
|
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