MGT Capital Investments amends terms of $2.1 million convertibles

By Devika Patel

Knoxville, Tenn., Feb. 10 - MGT Capital Investments, Inc. revised the terms of $2.1 million in convertible promissory notes on Feb. 5, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The notes are held by XShares Group, Inc.

For each of the notes, the conversion price of the series B preferred stock has been adjusted so that the number of common shares issuable upon conversion of the preferreds will be equal to 50% of the company's outstanding capital stock.

Prior to entering this agreement, the company invested $960,000 in XShares series C preferred shares in 2007 and an additional $2.04 million in XShares shares in 2008.

MGT Capital is a health care holding company based in London.

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