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Caspian Services, Inc.
Caspian Services, Inc. Places $15 Million Convertible Note
September 28th, 2008
Caspian Services, Inc. (BULLETIN BOARD: CSSV) announced that it has successfully completed the private placement of $15 million in principal amount of a 39 month convertible loan ("Note"). The Note bears interest at a rate of 13% per annum and is convertible into Caspian Services common shares. Accrued interest on the Note will be capitalized at the end of each twelve month interest period. Unless previously converted to common shares, repayment of the Note will be due in December 2011. The Note may not be prepaid without the consent of Noteholder. The Note is immediately convertible into common shares of Caspian Services at the request of the Noteholder and may be...
Source: Pharma Investments, Ventures & Law Weekly (2008-09-28)
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