By Sheri Kasprzak
New York, Oct. 27 - Warp Technology Holdings, Inc. said it has completed a private placement for $1 million.
The company issued 10% convertible promissory notes due in three months. The conversion price of the notes has not yet been set.
The investors received warrants for 363,636 shares, exercisable at $1.375 each for five years.
Based in Greenwich, Conn., and operating under the name Halo Technology Holdings, Inc., Warp Technology makes software to speed the delivery of web-based content.
| Issuer: | Warp Technology Holdings, Inc.
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| Issue: | Convertible promissory notes
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| Amount: | $1 million
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| Maturity: | Three months
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| Coupon: | 10%
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| Price: | Par
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| Yield: | 10%
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| Warrants: | For 363,636 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $1.375
|
| Settlement date: | Oct. 21
|
| Stock price: | $1.15 at close Oct. 21
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