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HyperSpace gets extension on maturity of $5 million in convertible debentures
By Sheri Kasprzak
New York, July 25 - HyperSpace Communications, Inc. said the maturity on $5 million in convertible debentures was extended.
The debentures, which are held by Toibb Investment LLC and Crestview Capital Master, LLC, will now be due Aug. 24, pushed back from July 24.
Because the maturity date was pushed back, the interest rate was adjusted to 12% from 10%.
The company sold the debentures on April 24.
Denver-based HyperSpace develops internet technology hardware to mid-sized businesses, government agencies and education organizations.
The stock gained 8.33%, or 10 cents, to end at $1.30 (Amex: HCO).
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