By Sheri Kasprzak
New York, April 23 - Tasker Products Corp. settled its previously announced private placement for $6.239 million.
The company sold secured convertible promissory notes.
The 10% notes are due June 30, 2007 and are convertible at $0.0725 each.
The deal included an indeterminate number of shares.
Most recently, the company issued $5.499 million on April 18.
Based in Danbury, Conn., Tasker makes hygienic products used to process seafood and agricultural products.
| Issuer: | Tasker Products Corp.
|
| Issue: | Secured convertible promissory notes
|
| Amount: | $6.239 million
|
| Maturity: | June 30, 2007
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | $0.0725
|
| Warrants: | For indeterminate number of shares
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $0.09
|
| Settlement date: | April 23
|
| Stock symbol: | OTCBB: TKER
|
| Stock price: | $0.31 at close April 23
|
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