By Devika Patel
Knoxville, Tenn., March 3 - EnergyConnect Group, Inc. said it plans to sell a $5 million convertible secured note to Aequitas Capital Management, Inc.
The note matures January 2011.
Proceeds will be used for general working capital needs.
Based in Lake Oswego, Ore., EnergyConnect provides a range of demand response services to the electric power industry.
| Issuer: | EnergyConnect Group, Inc.
|
| Issue: | Convertible secured note
|
| Amount: | $5 million
|
| Maturity: | January 2011
|
| Price: | Par
|
| Warrants: | No
|
| Investor: | Aequitas Capital Management, Inc.
|
| Pricing date: | March 3
|
| Stock symbol: | OTCBB: ECNG
|
| Stock price: | $0.09 at close March 3
|
| Market capitalization: | $8.56 million
|
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