Deal also includes warrants; unsecured note will be due Jan. 6, 2016
By Devika Patel
Knoxville, Tenn., Jan. 22 - Heatwurx, Inc. completed a $100,000 second tranche of a $1 million private placement of unsecured promissory notes on Jan. 15, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal raised $250,000 on Jan. 6.
The note is due Jan. 6, 2016 and carries a 12% coupon. It may be prepaid.
The investors also received one-third of a warrant for each $1.00 invested. The warrants are each exercisable at $3.00 for one year. The strike price is identical to the Jan. 8 closing share price.
Investors included Gus Blass II.
Based in Park City, Utah, HeatWurx provides asphalt repair technology.
| Issuer: | Heatwurx, Inc.
|
| Issue: | Loan evidenced by unsecured promissory note
|
| Amount: | $1 million
|
| Maturity: | Jan. 6, 2016
|
| Coupon: | 12%
|
| Call: | Yes
|
| Warrants: | One-third of a warrant for each $1.00 invested
|
| Warrant expiration: | One year
|
| Warrant strike price: | $3.00
|
| Investor: | Gus Blass II
|
| Announcement date: | Jan. 9
|
| Settlement date: | Jan. 6 (for $250,000), Jan. 15 (for $100,000)
|
| Stock symbol: | OTCBB: HUWX
|
| Stock price: | $3.00 at close Jan. 8
|
| Market capitalization: | $24.21 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
