By Laura Lutz
Des Moines, Aug. 3 - Catcher Holdings, Inc. sold $546,000 principal amount of secured convertible promissory notes and shares for proceeds of $420,000. As of July 30, the company had raised $1.995 million from the $3 million total offering.
The notes were priced at about 76.923 and included 147,000 common shares.
The 10% notes are due in 180 days. They 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.
On June 20, the company sold $1.3 million of the notes for proceeds of $1 million and issued 350,000 shares.
The company sold $455,500 of the notes for proceeds of $350,000 and issued 78,750 shares on July 18.
Based in Leesburg, Va., Catcher develops a wireless handheld global positioning system.
| Issuer: | Catcher Holdings, Inc.
|
| Issue: | Convertible promissory notes and shares
|
| Settlement date: | Aug. 3
|
| Stock symbol: | Pink Sheets: CTHH
|
| Stock price: | $0.82 at close June 28
|
| Stock price: | $1.00 at close July 18
|
| Stock price: | $0.93 at close Aug. 3
|
|
|
| Convertible promissory notes
|
| Amount: | $546,000
|
| Proceeds: | $420,000
|
| Maturity: | 180 days
|
| Coupon: | 10%
|
| Price: | 76.923
|
| Conversion price: | Lower of $0.65 and the average closing stock price for the five trading days before conversion
|
|
|
| Shares
|
| Shares: | 147,000
|
| Warrants: | No
|
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