One-year note is convertible at $6.70 per share
By Marisa Wong
Madison, Wis., Sept. 3 – Basta Holdings Corp. entered into a $500,000 convertible note dated Aug. 21, according to an 8-K filing with the Securities and Exchange Commission.
The one-year note bears interest at 6% and is convertible into common stock at a price of $6.70 per share.
The conversion price is equal to the average closing price of the company’s stock on the closing date of the loan, the filing noted.
The Bay Harbor Islands, Fla., company provides contract procurement, business development and management services to the aeronautical industry.
| Issuer: | Basta Holdings Corp.
|
| Issue: | Convertible note
|
| Amount: | $500,000
|
| Maturity: | One year
|
| Coupon: | 6%
|
| Conversion price: | $6.70
|
| Pricing date: | Aug. 21
|
| Stock symbol: | OTCBB: BSTA
|
| Stock price: | $7.19 at close Sept. 2
|
| Market capitalization: | $25.18 million
|
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