By Sheri Kasprzak
New York, July 17 - BPK Resources, Inc. sold $4.5 million in exchangeable notes on behalf of subsidiary Graphite Technology Group, Inc.
The 9% notes are due Jan. 12, 2010 and are exchangeable for common stock at $0.23 per share. The investor in the offering was Millennium Global Special Situations Americas Fund.
The investor received warrants for 9,782,609 shares, exercisable at $0.34 each for five years.
BPK, based in Delano, Pa., manufactures synthetic graphite and carbon-based materials.
| Issuer: | BPK Resources, Inc.
|
| Issue: | Exchangeable notes
|
| Amount: | $4.5 million
|
| Maturity: | Jan. 12, 2010
|
| Coupon: | 9%
|
| Price: | Par
|
| Yield: | 9%
|
| Conversion price: | $0.23
|
| Warrants: | For 9,782,609 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.34
|
| Investor: | Millennium Global Special Situations Americas Fund
|
| Settlement date: | July 17
|
| Stock symbol: | OTCBB: BPKR
|
| Stock price: | $0.25 at close July 17
|
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