Published on 1/20/2009 in the Prospect News PIPE Daily.
New Issue: Options Media concludes $1.18 million private placement of promissory notes
By Devika Patel
Knoxville, Tenn., Jan. 20 - Options Media Group Holdings, Inc. settled a $1.18 million private placement of promissory notes on Jan. 13, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The 6% notes are due on July 13, 2009 and were accompanied by 50,000 common shares.
Investors GRQ Consultants, Inc. 401K, Barry Honig and Michael Brauser also received warrants for 1 million shares, exercisable at $0.75 for five years.
Options Media, formerly Heavy Metal, Inc., is a private company based in Hallandale, Fla.
Issuer: | Options Media Group Holdings, Inc.
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Issue: | Promissory notes, 50,000 common shares
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Amount: | $1.18 million
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Maturity: | July 13, 2009
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Coupon: | 6%
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Price: | Par
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Yield: | 6%
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Warrants: | For 1 million shares
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Warrant expiration: | Five years
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Warrant strike price: | $0.75
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Investors: | GRQ Consultants, Inc. 401K, Barry Honig and Michael Brauser
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Settlement date: | Jan. 13
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