Company sells 8% convertibles due June 19, 2014 in private offering
By Devika Patel
Knoxville, Tenn., Oct. 4 - Dethrone Royalty Holdings, Inc. settled a $32,500 convertible note private placement on Oct. 1, according to an 8-K filed Friday with the Securities and Exchange Commission.
The 8% note is convertible into common shares at a conversion price equal to 58% of the average of the lowest three closing bid prices of the stock for the 10 trading days preceding the conversion date. The note matures June 19, 2014.
Based in Cave Creek, Ariz., Dethrone markets shirts, shorts, hats and other accessories catering to fans of mixed martial arts.
| Issuer: | Dethrone Royalty Holdings, Inc.
|
| Issue: | Convertible note
|
| Amount: | $32,500
|
| Maturity: | June 19, 2014
|
| Coupon: | 8%
|
| Conversion price: | 58% of the average of the lowest three closing bid prices of the stock for the 10 trading days preceding the conversion date
|
| Warrants: | No
|
| Settlement date: | Oct. 1
|
| Stock symbol: | OTCBB: DRHC
|
| Stock price: | $0.03 at close Sept. 30
|
| Market capitalization: | $2.94 million
|
© 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.
