By Devika Patel
Knoxville, Tenn., Feb. 5 - Bonds.com Group Inc. took in a total of $2.44 million from a private placement of its secured convertible notes, according to an 8-K filed Thursday with the Securities and Exchange Commission. The final closing, for $674,989, was completed on Jan. 30.
The deal was announced on Sept. 24, when the company raised $1.77 million.
The 10% notes were sold in units of $25,000 in notes apiece. The company sold a total of 97.625 units.
The notes mature on Sept. 24, 2010 and are convertible into common shares with an initial conversion price of $0.375.
Investors also received warrants for a number of shares, which are exercisable at $0.46875 until Sept. 24, 2013.
Bonds.com Group is based in Boca Raton, Fla., and provides an online trading platform to institutional and individual fixed-income investors through subsidiary Bonds.com.
| Issuer: | Bonds.com Group Inc.
|
| Issue: | Units of $25,000 in convertible notes
|
| Amount: | $2,440,625
|
| Units: | 97.625
|
| Conversion price: | $0.375
|
| Warrants: | Yes
|
| Warrant expiration: | Sept. 24, 2013
|
| Warrant strike price: | $0.46875
|
| Settlement date: | Sept. 24 (for $1,765,636), Jan. 30 (for $674,989)
|
| Stock symbol: | OTCBB: BDCG
|
| Stock price: | $0.50 at close Sept. 26
|
|
|
| Notes
|
| Maturity: | Sept. 24, 2010
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
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