By Devika Patel
Knoxville, Tenn., Dec. 23 - Magnum D'Or Resources, Inc. completed a $3.5 million private placement of 9% senior secured convertible notes on Dec. 23, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The note will mature in December 2010.
The note may be converted into common stock at $1.21 per share.
Investors also received series A warrants for 2,169,422 shares, series B warrants for 2,892,562 shares and series C warrants for 2,169,422 shares. The warrants are all exercisable at $1.21 for five years.
Based in Fort Lauderdale, Fla., Magnum is a recycling development stage company that holds exclusive license agreements for the United States, Canada and China.
| Issuer: | Magnum D'Or Resources, Inc.
|
| Issue: | Senior secured convertible notes
|
| Amount: | $3.5 million
|
| Maturity: | December 2010
|
| Coupon: | 9%
|
| Price: | Par
|
| Yield: | 9%
|
| Conversion price: | $1.21
|
| Warrants: | For 7,231,406 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.21
|
| Settlement date: | Dec. 23
|
| Stock symbol: | OTCBB: MDOR
|
| Stock price: | $1.16 at close Dec. 23
|
| Market capitalization: | $71.5 million
|
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