8% convertible promissory note sold to investor Rock Capital in deal
By Devika Patel
Knoxville, Tenn., July 7 – Wisdom Homes of America, Inc. sold a $37,500 8% convertible promissory note to Rock Capital, LLC on July 4, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal priced July 1.
The note is convertible into common stock at 58% of the lowest trading price of the stock for the 10 trading days preceding conversion, subject to a minimum conversion price of $0.00005 per share.
The note can be prepaid at prices ranging from 125 to 145. It matures on April 1, 2016.
Wisdom Homes is a manufactured housing retail center owner and operator based in Tyler, Texas.
| Issuer: | Wisdom Homes of America, Inc.
|
| Issue: | Convertible promissory note
|
| Amount: | $37,500
|
| Maturity: | April 1, 2016
|
| Coupon: | 8%
|
| Conversion price: | 58% of the lowest trading price of the stock for the 10 trading days preceding conversion; floor of $0.00005 per share
|
| Call: | Yes, ranging from 125 to 145
|
| Warrants: | No
|
| Investor: | Rock Capital, LLC
|
| Pricing date: | July 1
|
| Settlement date: | July 4
|
| Stock symbol: | OTCBB: WOFA
|
| Stock price: | $0.03 at close June 30
|
| Market capitalization: | $1.89 million
|
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