By Sheri Kasprzak
Atlanta, March 11 - Antonov plc said it has wrapped its private placement of convertible notes for €3 million.
The notes are convertible into common shares at 20p each and bear interest at 7.5% annually.
The company may redeem the notes any time after June 30, 2007.
The investors also received one warrant for every three shares issued upon conversion. The warrants are exercisable at €2.08 each through June 30, 2007.
Based in Rotterdam, The Netherlands, Antonov develops automotive transmissions.
| Issuer: | Antonov plc
|
| Issue: | Convertible note
|
| Amount: | €3 million
|
| Coupon: | 7.5%
|
| Price: | Par
|
| Yield: | 7.5%
|
| Conversion price: | 20p
|
| Call: | Redeemable after June 30, 2007
|
| Warrants: | One warrant for every three shares issued upon conversion
|
| Warrant expiration: | June 30, 2007
|
| Warrant strike price: | €2.08
|
| Pricing date: | Feb. 8
|
| Settlement date: | March 11
|
| Stock price: | €1.63 at close March 10
|
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