By Sheri Kasprzak
New York, Nov. 27 - eTwine Holdings, Inc. received a $10 million equity line of credit from Dutchess Private Equities Fund, LP.
Dutchess may buy shares over the next three years at 93% of the lowest closing bid price for the five trading days before a put notice.
There is a limit on each draw equal to $100,000 or 200% of the average daily volume for the 10 trading days before the put notice, multiplied by the three daily closing bid prices immediately before the put date.
New York-based eTwine creates and operates online dating web sites.
| Issuer: | eTwine Holdings, Inc.
|
| Issue: | Equity line of credit
|
| Amount: | $10 million
|
| Tenor: | Three years
|
| Price: | 93% of the lowest closing bid price for the five trading days before put notice
|
| Warrants: | No
|
| Investor: | Dutchess Private Equities Fund, LP
|
| Settlement date: | Nov. 22
|
| Stock symbol: | OTCBB: ETWI
|
| Stock price: | $0.35 at close Nov. 22
|
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