By Devika Patel
Knoxville, Tenn., April 7 - Marketing Worldwide Corp. arranged a $1.5 million line of credit with Crisnic Fund, SA on Feb. 17, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
Crisnic has committed to purchase up to $1.5 million of the company's common shares over two years at a purchase price equal to 100% of the market price during the five consecutive trading days after the drawdown notice.
Based in Howell, Mich., Marketing Worldwide develops customization programs for auto manufacturers.
| Issuer: | Marketing Worldwide Corp.
|
| Issue: | Equity line of credit
|
| Amount: | $1.5 million
|
| Tenor: | Two years
|
| Price: | 100% of market price over five trading days following drawdown notice
|
| Warrants: | No
|
| Investor: | Crisnic Fund, SA
|
| Pricing date: | Feb. 17
|
| Stock symbol: | OTCBB: MWWC
|
| Stock price: | $0.20 at close Feb. 17
|
| Market capitalization: | $1.84 million
|
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