12% note and five-year warrants were sold to Slipstream Communications
By Devika Patel
Knoxville, Tenn., May 28 – Creative Realities, Inc. completed a $465,000 private placement of 12% convertible subordinated secured promissory notes with Slipstream Communications, LLC on May 20, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The note matures on May 20, 2016 and is convertible into series A 6% convertible preferred stock and warrants.
Slipstream also received warrants for 762,295 shares. The warrants are each exercisable at $0.31 for five years. The strike price is a 6.9% premium to the May 19 closing share price of $0.29.
The marketing technologies company is based in New York.
| Issuer: | Creative Realities, Inc.
|
| Issue: | Convertible subordinated secured promissory note
|
| Amount: | $465,000
|
| Maturity: | May 20, 2016
|
| Coupon: | 12%
|
| Warrants: | For 762,295 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.31
|
| Investor: | Slipstream Communications, LLC
|
| Settlement date: | May 20
|
| Stock symbol: | OTCBB: CREX
|
| Stock price: | $0.29 at close May 19
|
| Market capitalization: | $9.08 million
|
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