Company completes third tranche of preferreds and warrants financing
By Devika Patel
Knoxville, Tenn., June 28 - Bonds.com Group Inc. settled a $2 million third tranche of a private placement of units with Jefferies & Co., Inc. on June 23, according to an 8-K filed Tuesday with the Securities and Exchange Commission. Oak Investment Partners XII, Ltd. Partnership and GFINet Inc. bought $6.5 million of the units on Feb. 2, and the company raised $400,000 on March 7.
The units were sold at a purchase price of $100,000 apiece. Each unit consists of 100 series D convertible preferred shares and warrants for 1,428,571.429 shares.
The warrants are each exercisable at $0.07 for five years. The strike price reflects a 65% discount to the Feb. 1 closing share price of $0.20.
The preferreds are initially convertible into about 92,857,143 common shares for an effective conversion price of about $0.07 per share, also a 65% discount to the Feb. 1 closing price.
The Boca Raton, Fla.-based company provides an online trading platform to institutional and individual fixed-income investors through subsidiary Bonds.com, Inc.
| Issuer: | Bonds.com Group Inc.
|
| Issue: | Units of 100 series D convertible preferred shares and warrants for 1,428,571.429 shares
|
| Amount: | $6.9 million
|
| Units: | 69
|
| Price: | $100,000.00
|
| Warrants: | Warrants for 1,428,571.429 shares per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.07
|
| Investor: | Oak Investment Partners XII, Ltd. Partnership and GFINet Inc. (for $6.9 million), Jefferies & Co., Inc. (for $2 million)
|
| Settlement date: | Feb. 2 (for $6.5 million), March 7 (for $400,000), June 23 (for $2 million)
|
| Stock symbol: | OTCBB: BDCG
|
| Stock price: | $0.20 at close Feb. 2
|
| Market capitalization: | $8.35 million
|
|
|
| Preferreds
|
| Conversion price: | $0.07
|
| Conversion ratio: | Into 92,857,143 shares
|
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