Vringo (VRNG) Reports Q1 Loss of $0.07/Share
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Vringo (VRNG) Enters $12.5M Secured Conv. Debt Placement
May 4, 2015 8:21 AM EDTVringo (NASDAQ: VRNG) announced that it has entered into an agreement with a long-standing institutional investor to issue $12.5 million of senior secured convertible notes. The investor has lead or participated in most financings since Vringo's inception in 2006.
The senior secured convertible notes (the "Notes") will be payable in 21 monthly installments, mature 21 months from issuance and will accrue interest at 8.0% per annum from the date of issuance. The Notes may be repaid, at Vringo's election, in either cash or, subject to certain conditions, shares of the company's common stock at a... More
