By Laura Lutz
Des Moines, Aug. 10 - Catcher Holdings, Inc. sold $260,000 principal amount of secured convertible promissory notes and shares for proceeds of $200,000. As of Aug. 10, the company had raised $2.195 million from the $3 million total offering.
The notes were priced at about 76.923 and included 70,000 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.
This is the fifth closing of the placement so far.
On June 20, Catcher sold $1.3 million of the notes, for proceeds of $1 million and issued 350,000 shares on June 20.
The company issued $292,500 of the notes and 78,750 shares, for proceeds of $225,000, on June 28; $455,500 of the notes and 122,500 shares, for proceeds of $350,000, on July 12; and $546,000 of the notes, for proceeds of $420,000, and 147,000 shares on Aug. 3.
Based in Leesburg, Va., Catcher develops a wireless, handheld global positioning system.
| Issuer: | Catcher Holdings, Inc.
|
| Issue: | Convertible promissory notes and shares
|
| Amount: | $2.195 million
|
| Settlement date: | June 20 (for proceeds of $1 million); June 28 (for $225,000); July 12 (for $350,000); Aug. 3 (for $420,000); Aug. 6 (for $200,000)
|
| Stock symbol: | Pink Sheets: CTHH
|
| Stock price: | $0.70 at close June 20
|
| Stock price: | $0.95 at close June 28
|
| Stock price: | $1.20 at close July 12
|
| Stock price: | $0.93 at close Aug. 3
|
| Stock price: | $0.76 at close Aug. 10
|
|
|
| Convertible promissory notes
|
| Principal amount: | $2.854 million
|
| 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: | 768,250
|
| Warrants: | No
|
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