By Sheri Kasprzak
New York, July 6 - Eugene Science, Inc. completed a $2 million private placement of senior secured convertible promissory notes.
The 10% notes are convertible into common shares at $0.65 each for the first six months. The maturity date of the notes was unavailable Friday.
The investors also received warrants for 5.2 million shares, exercisable at $0.25 each.
Los Angeles-based Eugene develops nutritional supplements.
| Issuer: | Eugene Science, Inc.
|
| Issue: | Senior secured convertible promissory notes
|
| Amount: | $2 million
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | $0.65 (for first six months)
|
| Warrants: | For 5.2 million shares
|
| Warrant strike price: | $0.25
|
| Settlement date: | July 2
|
| Stock symbol: | OTCBB: EUSI
|
| Stock price: | $0.40 at close July 2
|
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