Deal with lone investor includes five-year warrants for 62,500 shares
By Devika Patel
Knoxville, Tenn., Sept. 24 - Augme Technologies Inc. sold a $250,000 secured promissory note to Jay Joliat on Sept. 18, according to an 8-K filed Monday with the Securities and Exchange Commission.
The note is due in one year and carries a 12% coupon.
Horizon also received five-year warrants for 62,500 common shares, which are exercisable at $0.90, a 28.57% premium to the Sept. 17 closing share price of $0.70.
New York's Augme Technologies is a technology and services company.
| Issuer: | Augme Technologies Inc.
|
| Issue: | Secured promissory note
|
| Amount: | $250,000
|
| Maturity: | One year
|
| Coupon: | 12%
|
| Warrants: | For 62,500 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.90
|
| Investor: | Jay Joliat
|
| Settlement date: | Sept. 18
|
| Stock symbol: | OTCBB: AUGT
|
| Stock price: | $0.70 at close Sept. 17
|
| Market capitalization: | $94.03 million
|
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