By Sheri Kasprzak
New York, Dec. 19 - TenFold Corp. concluded a private placement of convertible preferred stock for $1.3 million.
The company issued 312,009 shares of the preferreds, which are convertible into 4,225,809 common shares.
The full pricing terms of the preferreds could not be determined Tuesday evening.
The investors received warrants for 2,112,904 shares, exercisable at $0.62 each for five years.
TenFold, based in Salt Lake City, licenses technologies used to upgrade obsolete applications.
| Issuer: | TenFold Corp.
|
| Issue: | Convertible preferred stock
|
| Amount: | $1.3 million
|
| Shares: | 312,009
|
| Conversion ratio: | Into 4,225,809 common shares
|
| Warrants: | For 2,112,904 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.62
|
| Settlement date: | Dec. 19
|
| Stock symbol: | OTCBB: TENF
|
| Stock price: | $0.28 at close Dec. 19
|
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