By Devika Patel
Knoxville, Tenn., Nov. 3 - AXS-One Inc. completed a $1.1 million private placement of series E 6% secured convertible promissory notes with seven investors on Oct. 30, according to an 8-K filed Monday with the Securities and Exchange Commission.
The notes mature on May 29, 2009. They may be converted into common stock at $1.00 per share.
The investors also received warrants for 3.3 million shares. The warrants are exercisable at $0.01 per share for seven years.
Proceeds will be used to fund the company's operations.
Based in Rutherford, N.J., AXS-One provides software for records compliance management.
Issuer: | AXS-One Inc.
|
Issue: | Series E secured convertible promissory notes
|
Amount: | $1.1 million
|
Maturity: | May 29, 2009
|
Coupon: | 6%
|
Price: | Par
|
Yield: | 6%
|
Conversion price: | $1.00
|
Warrants: | For 3.3 million shares
|
Warrant expiration: | Seven years
|
Warrant strike price: | $0.01
|
Settlement date: | Oct. 30
|
Stock symbol: | OTCBB: AXSO
|
Stock price: | $0.18 at close Oct. 30
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.