By Sheri Kasprzak
New York, July 12 - Brillian Corp. said it has raised $5 million in convertible debentures and $2 million in senior secured debentures.
The company sold the debentures to institutional investors.
The 4% convertible debentures are convertible into common shares at $2.63 each and are due on July 12, 2008.
The 9% senior secured debentures are also due on July 12, 2008 and have a face value of $2,075,000, priced at 96, for proceeds of $2 million.
The investors of the convertible and senior secured debentures also received warrants for 1.37 million shares, exercisable for five years. The strike price of the warrants could not be obtained by press time Tuesday.
Based in Tempe, Ariz., Brillian manufactures rear-projection high definition televisions for retailers.
| Issuer: | Brillian Corp.
|
| Issue: | Convertible debentures
|
| Amount: | $5 million
|
| Maturity: | July 12, 2008
|
| Coupon: | 4%
|
| Price: | Par
|
| Yield: | 4%
|
| Conversion price: | $2.63
|
| Warrants: | For 1.37 million shares
|
| Warrant expiration: | Five years
|
| Settlement date: | July 12
|
| Stock price: | $3.01 at close July 12
|
|
|
| Issuer: | Brillian Corp.
|
| Issue: | Senior secured debentures
|
| Amount: | $2,075,000
|
| Proceeds: | $2 million
|
| Maturity: | July 12, 2008
|
| Coupon: | 9%
|
| Price: | 96
|
| Warrants: | See above story
|
| Settlement date: | July 12
|
| Stock price: | $3.01 at close July 12
|
|
|
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