Amish Naturals Secures $3.125 Million Private Placement Funding.HOLMESVILLE, Ohio Holmesville is a village in Holmes County, Ohio, United States, along Killbuck Creek. The population was 386 at the 2000 census. Geography Holmesville is located at (40.629448, -81.922211)GR1. -- Amish Naturals, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AMNT), maker of premium organic pastas, today announced that it has executed a securities purchase agreement with an existing institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. for $3.125 million in gross investment proceeds. The transaction includes the issuance of a $3.125 million senior secured convertible note (the "Note") accompanied by two series of common stock purchase warrants (the "Warrants"). The Note is convertible into shares of the Company's common stock, par value $0.001 per share (the "Common Stock") at a conversion price of $1.75 per share and carries an interest rate of 10%. The Series E Warrant is exercisable for 5 million shares of Common Stock at an exercise price of $1.1056 per share and the Series F Warrant is exercisable for 2.5 million shares of Common Stock at an exercise price of $0.001 per share. In addition, the Company will prepay the interest on the Note at closing. This transaction was facilitated by Wharton Capital Partners, a New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. based investment banking firm, who will, in-turn, be paid a fee by the Company in addition to receiving warrants. "We believe this funding from our institutional investor clearly reflects their confidence in Amish Naturals' mission," said Troy Treangen, Amish Naturals' Executive Vice President/COO. "This partnership will allow us to broaden the current product line and further solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. the Amish Naturals brand." None of the Notes, Warrants, or shares of Common Stock issuable upon conversion of the Note or upon exercise of the Warrants (collectively, the "Securities") have been registered under the Securities Act of 1933. Accordingly, the Securities may not be offered or re-sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. The Company has agreed to file a registration statement, upon demand by the institutional investor, covering resale by the investor of the shares of Common Stock issuable upon conversion of the Note and exercise of the Warrants. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Securities. The private placement was made by the Company and any opportunity to participate in the private placement was made available only to a very limited group of institutional and other accredited investors Accredited Investor A term used by the Securities and Exchange Commission (SEC) under Regulation D to refer to investors who are financially sophisticated and have a reduced need for the protection provided by certain government filings. Also known as "qualified purchaser". . |
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