Atrinsic sells $50,000 of convertible notes through private placement

Company sells 5% secured convertible promissory notes to two investors

By Marisa Wong

Morgantown, W.Va., Feb. 5 – Atrinsic, Inc. settled a $50,000 private placement of 5% secured convertible promissory notes with Iroquois Master Fund Ltd. and Hudson Bay Master Fund Ltd. on Dec. 9, according to an 8-K filed Friday with the Securities and Exchange Commission. The company issued $25,000 principal amount of notes to each investor.

The notes are due Aug. 31, 2016 and are initially convertible into common shares at $5.00 per share.

New York’s Atrinsic is a direct marketing company.

Issuer:	Atrinsic, Inc.
Issue:	Secured convertible promissory notes
Amount:	$50,000
Maturity:	Aug. 31, 2016
Coupon:	5%
Conversion price:	$5.00
Warrants:	No
Investors:	Iroquois Master Fund Ltd. (for $25,000), and Hudson Bay Master Fund Ltd. (for $25,000)
Settlement date:	Dec. 9
Stock symbol:	OTC: ATRN
Market capitalization:	$400,000

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