By Devika Patel
Knoxville, Tenn., July 23 - Titan Trading Analytics Inc. said it will sell C$2 million in two-year 12% convertible debentures in a non-brokered private placement.
The debentures are convertible into units of one common share and one warrant at C$0.15 per unit. The warrants are each exercisable at C$0.30 for six months after conversion.
The debentures may be put after one year.
Proceeds will be used to enhance marketing and training programs and for general working capital requirements.
Titan, based in Edmonton, Alta., develops trading software used by individual and institutional traders.
| Issuer: | Titan Trading Analytics Inc.
|
| Issue: | Convertible debentures
|
| Amount: | C$2 million
|
| Maturity: | Two years
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Conversion price: | C$0.15
|
| Put option: | After one year
|
| Warrants: | One per unit upon conversion
|
| Warrant expiration: | Six months
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | July 23
|
| Stock symbol: | TSX Venture: TTA
|
| Stock price: | C$0.11 at close July 23
|
| Market capitalization: | C$6.41 million
|
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