Published on 5/25/2010 in the Prospect News PIPE Daily.
New Issue: Waste2Energy settles $1.04 million placement of convertible debentures
By Devika Patel
Knoxville, Tenn., May 25 - Waste2Energy Holdings, Inc. completed a $1.04 million private placement of senior convertible debentures on May 19, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The 12% debentures are due May 19, 2011and initially convertible into common stock at $0.50 per share.
The investors also received warrants for 1,043,900 shares, which are exercisable at $1.00 until May 19, 2013.
New York's Waste2Energy makes plants that convert solid waste into energy.
| Issuer: | Waste2Energy Holdings, Inc.
|
| Issue: | Senior convertible debentures
|
| Amount: | $1,043,900
|
| Maturity: | May 19, 2011
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Conversion price: | $0.50
|
| Warrants: | For 1,043,900 shares
|
| Warrant expiration: | May 19, 2013
|
| Warrant strike price: | $1.00
|
| Settlement date: | May 19
|
| Stock symbol: | OTCBB: WTEZ
|
| Stock price: | $0.51 at close May 19
|
| Market capitalization: | $30.2 million
|
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