By Sheri Kasprzak
New York, Oct. 18 - Markland Technologies, Inc. said it received a $5 million private equity credit agreement from Brittany Capital Management Ltd.
Under the terms of the agreement, Brittany may buy shares of Markland at 93% of the average of any three closing bid prices during the 10 trading days immediately the put date.
The agreement extends for three years.
Based in Providence, R.I., Markland Technologies is a security technology company.
| Issuer: | Markland Technologies, Inc.
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| Issue: | Private equity credit agreement
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| Amount: | $5 million
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| Price: | 93% of the average of any three closing bid prices during the 10 trading days immediately after put date
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| Tenor: | Three years
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| Warrants: | No
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| Investor: | Brittany Capital Management Ltd.
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| Settlement date: | Oct. 13
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| Stock price: | $0.03 at close Oct. 13
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