|
| Home : Yappn Closed on $395,000 Convertible Note Private Placement |
|
Feb 05
2014 |
Yappn Closed on $395,000 Convertible Note Private Placement |
|
NEW YORK, NEW YORK--(Marketwired - Feb. 5, 2014) - Yappn Corp (OTCQB:YPPN) ("Yappn or "Company") (www.yappn.com) is pleased to announce that the Company sold 395 units ("Units") to a group of investors led by AlphaNorth Asset Management's industry leading hedge fund, the AlphaNorth Partners Fund. Each Unit consists of (i) one unsecured convertible promissory note, $1,000 par value (the "Note"), which Note is convertible into shares of the Company's common stock, $0.0001 par value per share (the "Common Stock") at a conversion price equal to $0.10; (ii) a warrant ("Series A Warrant") entitling the holder thereof to purchase 10,000 shares of Common Stock at $0.15 per share; and (iii) a warrant ("Series B Warrant") entitling the holder thereof to purchase 10,000 shares of Common Stock at $0.20 per share. The aggregate purchase price for the 395 Units sold was $395,000. The Company granted to the investors of the Units, registration rights on all shares of common stock into which the Note, the Series A Warrant and the Series B Warrant are convertible or exercisable. |
|
|
|
| Source:http://www.marketwired.com/mw/release.do?id=1876089&sourceType=3 |
| |
|
Related News
|
» Domo Closes $125 Million Series C Financing From TPG Growth, Fidelity Investments, T. Rowe Price, Salesforce.com and Others
» Freyja Resources Inc. Announces Financings Totalling Up to $1.1 Million
|
|
|
