By Sheri Kasprzak
New York, July 5 - Catcher Holdings, Inc. sold another $292,500 in discounted convertible promissory notes for proceeds of $225,000.
The latest offering brings to $1,592,500 the proceeds raised from the $3 million offering so far.
The 10% notes are due in 180 days and are convertible into common shares at the lower of the average closing stock price for the five trading days before conversion and $0.65 each.
The notes were priced at 76 and included 78,750 common shares.
On June 20, the company sold $1.3 million of the notes for proceeds of $1 million and issued 350,000 shares.
Based in Leesburg, Va., Catcher develops a wireless, handheld global positioning system.
| Issuer: | Catcher Holdings, Inc.
|
| Issue: | Convertible promissory notes
|
| Amount: | $292,500
|
| Proceeds: | $225,000
|
| Maturity: | 180 days
|
| Coupon: | 10%
|
| Price: | 76
|
| Conversion price: | Lower of $0.65 and the average closing stock price for the five trading days before conversion
|
| Shares: | 78,750
|
| Warrants: | No
|
| Settlement date: | June 28
|
| Stock symbol: | Pink Sheets: CTHH
|
| Stock price: | $0.82 at close June 28
|
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