Published on 7/7/2009 in the Prospect News PIPE Daily.
New Issue: China Ivy School concludes $1.56 million placement of convertible notes
By Devika Patel
Knoxville, Tenn., July 7 - China Ivy School, Inc. raised $1.56 million a private placement of 6% convertible notes on June 30, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The notes are due on June 30, 2010. They are initially convertible into common shares at $0.08 per share.
Based in Shenzhen, China, China Ivy is a private education institution.
Issuer: | China Ivy School, Inc.
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Issue: | Convertible notes
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Amount: | $1.56 million
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Maturity: | June 30, 2010
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Coupon: | 6%
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Price: | Par
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Yield: | 6%
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Conversion price: | $0.08
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Warrants: | No
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Settlement date: | June 30
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Stock symbol: | OTCBB: CIVS
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Stock price: | $0.021 at close June 30
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