New Issue: Aspyra completes $1 million sale of convertible notes

By Devika Patel

Knoxville, Tenn., Feb. 19 - Aspyra, Inc. settled a $1 million private placement of secured convertible notes on Feb. 12, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The notes have a 12% coupon, compounded on each July 15 and Jan. 15, and will mature on March 26, 2010. The conversion price is $0.31.

Investors also received warrants for 5,774,194 shares. The warrants are exercisable at $0.31 for three years.

Aspyra, based in Calabasas, Calif., provides clinical and diagnostic information to the health care sector.

Issuer:	Aspyra, Inc.
Issue:	Secured convertible notes, warrants
Amount:	$1 million
Maturity:	March 26, 2010
Coupon:	12%, compounded on each July 15 and Jan. 15
Price:	Par
Yield:	12%
Conversion price:	$0.31
Warrants:	For 5,774,194 shares
Warrant expiration:	Three years
Warrant strike price:	$0.31
Pricing date:	Feb. 12
Stock symbol:	Amex: APY
Stock price:	$0.30 at close Feb. 12
Market capitalization:	$3.73 million

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