By Laura Lutz
Des Moines, Dec. 6 - Wifimed Holdings Co., Inc. raised $2.03 million from a private placement of discounted senior convertible debentures and warrants, according to an 8-K filing with the Securities and Exchange Commission.
The debentures have a total principal amount of $2.25 million and are priced at 90.
Enable Growth Partners LP, Pierce Diversified Strategy Master Fund LLC and Enable Opportunity Partners LP were the investors.
The debentures mature on May 31, 2010 and bear interest at 5% per year. They are convertible into common stock at $0.20 per share.
The investors also received warrants for 11.25 million shares, exercisable at $0.50 per share for five years.
Meyers Associates, LP is the placement agent.
Wifimed is an Atlanta-based provider of technology for the medical industry.
| Issuer: | Wifimed Holdings Co., Inc.
|
| Issue: | Discounted senior convertible debentures
|
| Proceeds: | $2,025,000
|
| Principal amount: | $2.25 million
|
| Maturity: | May 31, 2010
|
| Coupon: | 5%
|
| Price: | 90
|
| Conversion price: | $0.20
|
| Warrants: | For 11.25 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.50
|
| Agent: | Meyers Associates, LP
|
| Investors: | Enable Growth Partners LP, Pierce Diversified Strategy Master Fund LLC and Enable Opportunity Partners LP
|
| Pricing date: | Nov. 30
|
| Stock symbol: | OTCBB: WIFM
|
| Stock price: | $0.84 at close Nov. 30
|
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