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WHTop → 📋 News → Interliant Secures $10 Million In Funds
Mar 11, 2002 : Interliant Secures $10 Million In Funds
📅 - Interliant Inc. closed a $10 million funding deal with its two largest investors, Charterhouse Group International Inc. and Mobius Venture Capital today.
Interliant (interliant.com) said Charterhouse and Mobius purchased 100 units with each unit consisting of $100,000 principal amount of 10% convertible subordinated notes and 100,000 warrants for the purchase of its common shares. The notes are convertible at the option of the holder at any time before maturity on March 8, 2005 into Interliant's common shares at a conversion price of 30 cents a share, subject to adjustment. Interest payments will required semiannually on Aug. 31 and Feb. 28, in cash or by the issuance of additional notes, at the company's option. The warrants have an exercise price of 30 cents a share and expire March 8, 2007. Interliant's shares closed at 31 cents on the Nasdaq National Market.
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