E Com Ventures gets extension on maturity of $5 million convertible note

By Sheri Kasprzak

New York, May 1 - E Com Ventures, Inc. has received an extension on the maturity of a $5 million subordinated convertible note with Glen and Stephen Nussdorf.

The Nussdorfs agreed to extend the maturity on the note, which was first issued on Dec. 9, 2004, to January 2009 from January 2006.

The note bears interest at Prime plus 100 basis points and is convertible into shares at $11.25 each.

Located in Sunrise, Fla., E Com is a fragrance retailer.

On Monday, the stock gained 1.51%, or 33 cents, to settle at $22.25 (Nasdaq: ECMV).

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