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Team Nation Holdings nixes $3 million placement of 14.4% convertibles
Two-year financing agreement with JMJ Financial only raises $125,000
By Devika Patel
Knoxville, Tenn., March 16 - Team Nation Holdings Corp. canceled a private placement of 14.4% convertible promissory notes on March 11, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The $3 million offering priced on Nov. 18, and the company raised a total of $125,000 from the deal.
The notes were to be sold in six tranches of $500,000 apiece to JMJ Financial over two years.
Team Nation Holdings, based in Newport Beach, Calif., is a management and services company specializing in management services for title companies.
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