Investor Jackson Investment also gets warrants for 2,861,856 shares
By Devika Patel
Knoxville, Tenn., Dec. 17 – Blue Earth, Inc. settled a $7,154,639 loan agreement with Jackson Investment Group, LLC on Dec. 11, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The loan is evidenced by a 9% senior secured note that is due Feb. 29, 2016.
Jackson Investment also received warrants for 2,861,856 shares, which are each exercisable at $0.50 for five years. The strike price is identical to the Dec. 10 closing share price.
Based in Henderson, Nev., Blue Earth is a clean technology company with a primary focus on the energy efficiency, water and wastewater sectors.
Issuer: | Blue Earth, Inc.
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Issue: | Loan evidenced by a senior secured note
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Amount: | $7,154,639
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Maturity: | Feb. 29, 2016
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Coupon: | 9%
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Warrants: | For 2,861,856 shares
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Warrant expiration: | Five years
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Warrant strike price: | $0.50
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Investor: | Jackson Investment Group, LLC
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Settlement date: | Dec. 11
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Stock symbol: | OTCBB: BBLU
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Stock price: | $0.50 at close Dec. 10
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Market capitalization: | $35.59 million
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