By Sheri Kasprzak
New York, June 20 - Oxford Media, Inc. said it intends to conduct a $7.8 million private placement as part of its acquisition of SVI Hotel Corp.
The offering includes 10% notes due Jan. 15, 2007.
Closing of the deal is contingent upon completion of the SVI acquisition. If the acquisition is not closed by July 14, the financing will not move forward.
The offering also includes up to 1,164,181 common shares and warrants for 2,910,453 shares, exercisable at $1.50 each.
Based in Irvine, Calif., Oxford Media markets proprietary video-on-demand and pay-per-view entertainment systems for the hotel industry.
| Issuer: | Oxford Media, Inc.
|
| Issue: | Notes
|
| Amount: | $7.8 million
|
| Maturity: | Jan. 15, 2007
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Shares: | 1,164,181
|
| Warrants: | For 2,910,453 shares
|
| Warrant strike price: | $1.50
|
| Pricing date: | June 20
|
| Settlement date: | July 14
|
| Stock symbol: | OTCBB: OXMI
|
| Stock price: | $1.20 at close June 20
|
|
|
© 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.
