By Sheri Kasprzak
New York, Dec. 18 - Datascension Inc. closed a private placement of fixed-price term notes for $2,169,123.
Longview Fund, LP and another investor purchased the 14% notes due December 2008. The conversion price of the notes could note be determined Monday.
The investors also received warrants for 2 million shares, exercisable at $0.45 each for five years.
Of the proceeds, $1,719,123 will be used to satisfy existing obligations to the company's investors.
Datascension, based in Las Vegas, provides market research, data storage, document processing and database design.
| Issuer: | Datascension Inc.
|
| Issue: | Fixed price term notes
|
| Amount: | $2,169,123
|
| Maturity: | December 2008
|
| Coupon: | 14%
|
| Price: | Par
|
| Yield: | 14%
|
| Warrants: | For 2 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.45
|
| Investors: | Longview Fund, LP (lead)
|
| Settlement date: | Dec. 12
|
| Stock symbol: | OTCBB: DSEN
|
| Stock price: | $0.37 at close Dec. 12
|
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