By Sheri Kasprzak
New York, Feb. 10 - Amadeus International Inc. said it has completed a private placement of convertible debentures for C$1 million and has also received confirmed credit facilities for C$750,000 from Desjardins Business Centres.
The debentures mature on Feb. 9, 2008 and bear interest at 15% annually if the company pays interest in shares and at 10% annually if it pays interest in cash. The debentures are convertible into common shares at C$0.15 each.
The investors have the option to buy up to C$400,000 in additional principal of the debentures.
The offering includes warrants for up to 3.08 million shares. The warrants are exercisable at C$0.225 each for two years.
Assuming no additional principal is subscribed for, Amadeus will issue 8,866,667 shares, or 25.7% of its outstanding common stock, upon conversion.
Based in Quebec City, Amadeus develops web-based software used to regulate business processes and corporate governance.
| Issuer: | Amadeus International Inc.
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| Issue: | Convertible debentures
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| Amount: | C$1 million (minimum); C$1.4 million (maximum)
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| Maturity: | Feb. 9, 2008
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| Coupon: | 10% (if interest is paid in cash), 15% (if interest is paid in stock)
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| Conversion price: | C$0.15
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| Warrants: | For up to 3.08 million shares
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.225
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| Settlement date: | Feb. 9 (for C$1 million)
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| Stock symbol: | TSX Venture: AML
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| Stock price: | C$0.15 at close Feb. 9
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