By Devika Patel
Knoxville, Tenn., May 13 - Alpha Innotech Corp. arranged a $1.5 million loan with Montage Capital, LLC and Agility Capital, LLC on May 9, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The loan carries a coupon of 13% and matures on Oct. 31, 2009.
If any amount is outstanding on Dec. 31, 2008, the company will pay Montage and Agility a fee of $7,500. If any amount is outstanding on May 7, 2009, the company will pay an additional fee of $7,500.
The company may prepay the loan in whole or in part at any time without penalty.
This loan is secured by all of the company's assets.
Montage and Agility also received warrants for 281,250 common shares, exercisable at $0.80 until Oct. 31, 2014.
BroadOak Partners, LLC was the agent.
Based in San Leandro, Calif., Alpha Innotech manufactures and sells analytical laboratory instruments, software and consumables used in life science research laboratories for the study of nucleic acids, proteins and cells.
| Issuer: | Alpha Innotech Corp.
|
| Issue: | Loan
|
| Amount: | $1.5 million
|
| Maturity: | Oct. 31, 2009
|
| Coupon: | 13%
|
| Warrants: | For 281,250 shares
|
| Warrant expiration: | Oct. 31, 2014
|
| Warrant strike price: | $0.80
|
| Agent: | BroadOak Partners, LLC
|
| Investor: | Montage Capital, LLC, Agility Capital, LLC
|
| Pricing date: | May 9
|
| Stock symbol: | OTCBB: APNO
|
| Stock price: | $0.80 at close May 9
|
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