By Sheri Kasprzak
New York, Nov. 10 - Apptix, Inc. said it entered the PIPE market with two offerings - a stock deal for $5,252,000 and a convertible loan offering for $5.1 million.
The stock offering includes up to 5.2 million shares a $1.01 each.
The convertible loan matures in two years and bears interest at 11% annually. The loan is convertible into shares for the first 21 month at $1.52.
DnB NOR Markets is the placement agent for both offerings.
Based in Herndon, Va., Apptix makes on-demand messaging software for handheld devices.
| Issuer: | Apptix, Inc.
|
| Issue: | Stock
|
| Amount: | $5,252,000
|
| Shares: | 5.2 million
|
| Price: | $1.01
|
| Warrants: | No
|
| Placement agent: | DnB NOR Markets
|
| Pricing date: | Nov. 10
|
| Stock price: | $0.98 at close Nov. 10
|
|
|
| Issuer: | Apptix, Inc.
|
| Issue: | Convertible loan
|
| Amount: | $5.1 million
|
| Maturity: | Two years
|
| Coupon: | 11%
|
| Price: | Par
|
| Yield: | 11%
|
| Conversion price: | $1.52
|
| Warrants: | No
|
| Placement agent: | DnB NOR Markets
|
| Pricing date: | Nov. 10
|
| Stock price: | $0.98 at close Nov. 10
|
|
|
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