New Issue: U.S. Wireless Data completes $9 million sale of loan, warrants

By Sheri Kasprzak

New York, June 7 - U.S. Wireless Data, Inc., on behalf of subsidiary StarVox Communications, Inc., sealed a $9 million private placement of senior secured debentures with warrants.

The 10% debentures due Aug. 1, 2007 were sold to DKR Soundshore Oasis Holding Fund Ltd., SMH Capital Inc. and Trinad Capital Master Fund Ltd.

The investors received warrants for 2.52 million shares, exercisable at $0.01 each through June 1, 2012.

Based in New York, U.S. Wireless Data is a shell company currently planning to complete an asset acquisition, merger, exchange of capital stock or business combination.

Issuer:	U.S. Wireless Data, Inc.
Issue:	Senior secured debentures
Amount:	$9 million
Maturity:	Aug. 1, 2007
Coupon:	10%
Price:	Par
Yield:	10%
Warrants:	For 2.52 million shares
Warrant expiration:	June 1, 2012
Warrant strike price:	$0.01
Investors:	DKR Soundshore Oasis Holding Fund Ltd., SMH Capital Inc., Trinad Capital Master Fund Ltd.
Settlement date:	June 1
Stock symbol:	Pink Sheets: USWCQ
Stock price:	$0.0001 at close June 1

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