By Devika Patel
Knoxville, Tenn., Sept. 2 - Environmental Solutions Worldwide Inc. sold $1.6 million of 9% convertible debentures in a private placement on Aug. 28, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The three-year debentures have a conversion price of $0.50.
The company may redeem the debentures at 110%.
Based in Telford, Pa., Environmental Solutions develops pollution-control products for the automotive and industrial markets.
Issuer: | Environmental Solutions Worldwide Inc.
|
Issue: | Convertible debentures
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Amount: | $1.6 million
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Coupon: | 9%
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Price: | Par
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Yield: | 9%
|
Call: | 110%
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Conversion price: | $0.50
|
Warrants: | No
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Settlement date: | Aug. 28
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Stock symbol: | OTCBB: ESWW
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Stock price: | $0.58 at close Aug. 28
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