By Laura Lutz
Des Moines, Aug. 27 - Catcher Holdings, Inc. sold another $650,000 principal amount of secured convertible promissory notes, for proceeds of $500,000. As of Aug. 27, the company had raised $2.7 million from the $3 million total offering.
The notes were priced at about 76.923 and included 175,000 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 sixth closing of the placement so far.
On June 20, Catcher sold $1.3 million of the notes and issued 350,000 shares, for proceeds of $1 million.
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; $546,000 of the notes and 147,000 shares, for proceeds of $420,000, on Aug. 3; and $260,000 of the notes and 70,000 shares, for proceeds of $200,000, on Aug. 6.
Based in Leesburg, Va., Catcher develops a wireless, handheld global positioning system.
Issuer: | Catcher Holdings, Inc.
|
Issue: | Convertible promissory notes and shares
|
Amount: | $3 million (maximum); $2,695,000 (so far)
|
Settlement date: | June 20 (for $1 million); June 28 (for $225,000) July 12 (for $350,000) Aug. 3 (for $420,000); Aug. 6 (for $200,000); Aug. 23 (for $500,000)
|
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: | $0.90 at close Aug. 6
|
Stock price: | $0.77 at close Aug. 23
|
|
Convertible promissory notes
|
Principal amount: | $3,504,000 (so far)
|
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: | 943,250 (so far)
|
Warrants: | No
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.