Proceeds from nine-month note to be used for working capital purposes
By Marisa Wong
Madison, Wis., Jan. 7 - Med One Oak, Inc. entered into a promissory note with Greater Houston Physician Medical Association, PLLC on Dec. 31 for a $1.5 million line of credit, according to an 8-K filing with the Securities and Exchange Commission.
The note accrues 4.25% interest per year and is payable in full on Sept. 30, 2013.
The principal and accrued interest is payable either in cash or shares of common stock.
The company plans to use drawn funds for working capital purposes.
Med One is a Shenandoah, Texas-based blank check company.
| Issuer: | Med One Oak, Inc.
|
| Issue: | Promissory note
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| Amount: | $1.5 million
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| Maturity: | Sept. 30, 2013
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| Coupon: | 4.25%
|
| Warrants: | None
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| Investor: | Greater Houston Physician Medical Association, PLLC
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| Settlement date: | Dec. 31
|
| Stock symbol: | OTCBB: BDGV |
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