These warrants are identical to those held by public investors in the IPO, who received one redeemable share and one detachable warrant
AMEX: APTS)("PAC") announced today that it has raised proceeds sufficient to break escrow on its continuous public offering of a minimum of 2,000 and a maximum of 150,000 Units, with each Unit consisting of one share of Series A Redeemable Preferred Stock and one detachable warrant
to purchase 20 shares of PAC's common stock, or Unit Offering.
In similar fashion, APBO 14 (3-69), [paragraph]12, prevents an allocation of a debt issue price to a conversion feature, while [paragraph]17 does allocate the issue price to the value of a detachable warrant
In connection with these transactions, the Company issued to Banco Inbursa a detachable warrant
which is exercisable for up to 5.
Each promissory note with a detachable warrant
entitles the holder to subscribe for one new share in the company at a nominal price of SEK 2, which is comparable to SEK 150.
None of the shares of common stock, short term warrants, Units and the convertible promissory notes and detachable warrant
comprising the Units were registered under the Securities Act of 1933, as amended, and such securities were exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended and Rule 506 of Regulation D promulgated thereunder.
Each Unit Consists of One Share of a Series A Convertible Preferred Stock and a Detachable Warrant
to Purchase Common Stock
In parallel, subscribers to the new shares are entitled to receive three detachable warrants
per common share.
36 million free detachable warrants
on the basis of one free warrant for every three rights shares subscribed to, as well as a private placement of up to 63.
In addition, 3,091,572 detachable warrants
will be issued to the purchaser of the convertible debt entitling the holders to purchase 3,091,572 Common Shares at a price of C$0.
MYR 600 million Fixed Rate Serial Bonds with Detachable Warrants
(due 2015) at -.
The lenders received six-year notes with a coupon of more than 14 percent and detachable warrants