By Devika Patel
Knoxville, Tenn., Dec. 15 - Telanetix, Inc. completed a $1.5 million private placement of senior secured convertible debentures on Dec. 11, according to an 8-K filed Monday with the Securities and Exchange Commission.
The notes mature June 30, 2014 and are convertible into common shares at $0.40 per share.
Interest is payable quarterly at the rate of 0% per annum for the first year, 12% per annum from the one-year anniversary until the four-year anniversary and 18% per annum from the four-year anniversary until maturity.
The debentures may be redeemed early at 120% of par plus interest. The company also may force conversion of if the volume weighted average price of Telanetix's common stock exceeds 200% of the conversion price for 20 trading days out of a consecutive 30 trading-day period.
Investors also received warrants for 456,000 common shares, which are exercisable at $0.40.
Telanetix is a video conferencing company based in San Diego.
| Issuer: | Telanetix, Inc.
|
| Issue: | Senior secured convertible debentures
|
| Amount: | $1.5 million
|
| Maturity: | June 30, 2014
|
| Coupon: | Variable
|
| Price: | Par
|
| Yield: | Variable
|
| Conversion price: | $0.40
|
| Call: | At 120% plus interest
|
| Warrants: | For 456,000 shares
|
| Warrant strike price: | $0.40
|
| Settlement date: | Dec. 11
|
| Stock symbol: | OTCBB: TNXI
|
| Stock price: | $0.09 at close Dec. 11
|
| Market capitalization: | $1.91 million
|
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