New Issue: Calibrus settles $1 million private placement of convertible debentures

By Devika Patel

Knoxville, Tenn., July 26 - Calibrus, Inc. said it raised $250,000 in the final tranche of a $1 million private placement of convertible debentures. It raised $750,000 on March 29 and announced the deal on April 26.

The company sold 200 units, with 150 units sold in the first tranche and 50 units sold in the final tranche. Each unit consists of a $5,000 12% convertible debenture and 2,500 warrants.

The debentures are convertible at $1.50 per common share. Each warrant is exercisable at $1.95 once the linked debenture is converted.

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
Amount:	$1 million
Units:	200
Warrants:	2,500 warrants per unit
Warrant strike price:	$1.95
Announcement date:	April 26
Settlement dates:	March 29 (for $750,000), July 23 (for $250,000)
Stock symbol:	OTCBB: CALB
Stock price:	$0.50 at close April 23
Market capitalization:	$4.76 million
Debentures
Coupon:	12%
Price:	Par of $5,000
Yield:	12%
Conversion price:	$1.50

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