New Issue: Lifevantage sells $1.85 million of convertible debentures in placement

By Devika Patel

Knoxville, Tenn., Feb. 8 - Lifevantage Corp. sold $1.85 million of 8% convertible debentures in a private placement on Feb. 4, according to an 8-K filed Monday with the Securities and Exchange Commission.

The two-year debentures, sold at par of $1,000, are initially convertible into common stock at $0.20 per share.

The investors also received 50% warrant coverage, or warrants for 4,627,500 shares. The warrants are each exercisable at $0.50.

Greenwood Village, Colo.-based Lifevantage specializes in health products.

Issuer:	Lifevantage Corp.
Issue:	Convertible debentures
Amount:	$1,851,000
Maturity:	Two years
Coupon:	8%
Price:	Par of $1,000
Yield:	8%
Conversion price:	$0.20
Warrants:	For 4,627,500 shares
Warrant strike price:	$0.50
Settlement date:	Feb. 4
Stock symbol:	OTCBB: LFVN
Stock price:	$0.34 at close Feb. 4
Market capitalization:	$20 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.