By Devika Patel
Knoxville, Tenn., Feb. 11 - Organic To Go Food Corp. arranged a $5 million private placement of a 15% convertible promissory note with W.Health LP on Wednesday, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The note is convertible into Organic To Go common stock at $0.14 per share and will mature March 17, 2010.
Settlement is expected Feb. 20.
Seattle-based Organic To Go operates casual restaurants that sell organic food.
| Issuer: | Organic To Go Food Corp.
|
| Issue: | Convertible promissory note
|
| Amount: | $5 million
|
| Maturity: | March 17, 2010
|
| Coupon: | 15%
|
| Price: | Par
|
| Yield: | 15%
|
| Conversion price: | $0.14
|
| Warrants: | No
|
| Investor: | W.Health LP
|
| Pricing date: | Feb. 11
|
| Settlement date: | Feb. 20
|
| Stock symbol: | OTCBB: OTGO
|
| Stock price: | $0.15 at close Feb. 10
|
| Market capitalization: | $5.35 million
|
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