By Sheri Kasprzak
Atlanta, May 5 - Onelink4travel, Inc. said it has closed a private placement of convertible notes.
The notes bear interest at 10% annually, mature in December 2007 and are convertible into common shares at $1.50 each.
The company may prepay the notes after October 2006.
The investors also received warrants equal to half of the shares issuable upon conversion. The warrants are exercisable at $1.50 each for five years.
The proceeds of the deal will be used to finance the company's acquisition of Reservation Center Inc. and for working capital.
Based in San Francisco, Onelink4travel provides prepaid financial products to the travel and tourism industry.
| Issuer: | Onelink4travel, Inc.
|
| Issue: | Convertible notes
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| Amount: | $6.45 million
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| Maturity: | December 2007
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
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| Conversion price: | $1.50
|
| Call: | May be prepaid after October 2006
|
| Warrants: | For 50% of the shares issuable upon conversion
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.50
|
| Settlement date: | May 5
|
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