8% debentures due July 22, 2016 sold to six investors through offering
By Devika Patel
Knoxville, Tenn., May 27 – MamaMancini’s Holdings, Inc. settled a $450,000 private placement of 8% convertible debentures with six investors on May 22, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The debentures, which mature on July 22, 2016, are convertible into common stock at $1.50 per share, which is a 31.58% premium to the May 21 closing share price of $1.14.
Based in East Rutherford, N.J. MamaMancini's manufactures and distributes a line of beef meatballs and sauces.
| Issuer: | MamaMancini’s Holdings, Inc.
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| Issue: | Convertible debentures
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| Amount: | $450,000
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| Maturity: | July 22, 2016
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| Coupon: | 8%
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| Conversion price: | $1.50
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| Warrants: | No
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| Pricing date: | May 22
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| Stock symbol: | OTCBB: MMMB
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| Stock price: | $1.14 at close May 21
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| Market capitalization: | $17.97 million
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