10% note due Dec. 31, 2016, will convert to stock at $0.08 per share
By Devika Patel
Knoxville, Tenn., Aug. 26 – Fuse Medical Inc. settled a $50,000 private placement of a 10% convertible promissory note due Dec. 31, 2016 on Aug. 23, according to an 8-K filed Friday with the Securities and Exchange Commission.
The note may be converted into common stock at $0.08 per share, which is a 38.46% discount to the Aug. 22 closing share price of $0.13.
The Fort Worth company distributes and sells internal fixation, durable bone materials, biologics, tissue, surgical and other related surgical products.
| Issuer: | Fuse Medical Inc.
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| Issue: | Convertible promissory note
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| Amount: | $50,000
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| Maturity: | Dec. 31, 2016
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| Coupon: | 10%
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| Conversion price: | $0.08
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| Warrants: | No
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| Settlement date: | Aug. 23
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| Stock symbol: | OTCBB: FZMD
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| Stock price: | $0.13 at close Aug. 22
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| Market capitalization: | $895,810
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