Tapinator amends $2.24 million convertible debenture sold to Hillair

Company increases conversion price, extends term of related warrants

By Devika Patel

Knoxville, Tenn., Aug. 2 – Tapinator Inc. said it reached an agreement with Hillair Capital Investments LP to refinance the terms of a $2.24 million 8% original issue discount senior secured convertible debenture that was sold for $2 million in a non-brokered private placement on June 22, 2015.

The original debenture was exchanged for a new $2,394,000 8% original issue discount senior secured convertible debenture. The conversion price was increased to $0.25 per share from $0.205 per share and the maturity date of the related warrants was extended to July 28, 2021 from June 22, 2020.

The investor also received 420 series A convertible preferred shares, which are convertible into 1.68 million common shares.

The developer and publisher of mobile games is based in New York.

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