By Devika Patel
Knoxville, Tenn., April 26 - Calibrus, Inc. said it raised $750,000 in the final tranche of a $1 million private placement of units on March 29.
The company is selling 200 units, with 150 units sold in this tranche. Each unit consists of a $5,000 12% convertible debenture and 2,500 warrants.
The debenture is convertible at $1.50 per common share.
Each warrant to purchase one common share is exercisable at the lower of $1.95 per share or 130% of the share price paid by any investor in a private placement in the next 12 months.
Based in Tempe, Ariz., Calibrus is a managed services outsourcing vendor, specializing in third party verification, hosted call recording and IVR services
| Issuer: | Calibrus, Inc.
|
| Issue: | Units of a $5,000 12% convertible debenture and 2,500 warrants
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| Amount: | $1 million
|
| Units: | 200
|
| Warrants: | 2,500 warrants per unit
|
| Warrant strike price: | Lower of $1.95 per share or 130% of the share price paid by any investor in a private placement in next 12 months
|
| Announcement date: | April 26
|
| Settlement date: | March 29 (for $750,000)
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| Stock symbol: | OTCBB: CALB
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| Stock price: | $0.50 at close April 23
|
| Market capitalization: | $3.4 million
|
|
|
| Debenture
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| Coupon: | 12%
|
| Price: | Par of $5,000
|
| Yield: | 12%
|
| Conversion price: | $1.50
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