By Sheri Kasprzak
New York, July 6 - mPhase Technologies, Inc. received a $6 million private equity credit agreement from Double U Master Fund, LP.
The investor may buy shares of mPhase from time to time at a 14% discount to the then-current market value.
mPhase may put up to $300,000 of its stock per month under the agreement but is not obligated to draw any minimum amount.
mPhase, based in Norwalk, Conn., develops broadband communications products.
| Issuer: | mPhase Technologies, Inc.
|
| Issue: | Private equity credit agreement
|
| Amount: | $6 million
|
| Price: | 14% discount to market price at time of draw
|
| Warrants: | No
|
| Investor: | Double U Master Fund, LP
|
| Settlement date: | June 28
|
| Stock symbol: | OTCBB: XDSL
|
| Stock price: | $0.09 at close June 28
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
