By Sheri Kasprzak
New York, Oct. 13 - Halo Technology Holdings, Inc. wrapped a $1.5 million private placement of subordinated convertible promissory notes.
The notes were purchased by a group of investors led by Vision Opportunity Master Fund, Ltd.
The 10% notes are due in three years and are convertible into common shares at $0.68 each.
The investors received warrants for 1,102,942 shares, exercisable at $0.80 each for five years.
Connected to the offering, the company issued $1.25 million in principal of the notes in exchange for 1 million common shares. No warrants were issued with the $1.25 million in notes.
Based in Greenwich, Conn., Halo operates several software companies.
| Issuer: | Halo Technology Holdings, Inc.
|
| Issue: | Subordinated convertible promissory notes
|
| Amount: | $1.5 million
|
| Maturity: | Three years
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | $0.68
|
| Warrants: | For 1,102,942 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.80
|
| Investors: | Vision Opportunity Master Fund, Ltd. (lead)
|
| Settlement date: | Oct. 12
|
| Stock symbol: | OTCBB: HALO
|
| Stock price: | $0.80 at close Oct. 12
|
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