vert...qualcuno la segue??

Entry into a Material Definitive Agreement, Creation of a Direct Financial Obliga


Item 1.01 Entry into a Material Definitive Agreement.

On May 15, 2006, Verticalnet, Inc. (the "Company") entered into a Note Purchase Agreement ("Purchase Agreement") with an institutional investor (the "Investor"). Under the terms of the Purchase Agreement, the Investor agreed to loan the Company $4.0 million and the Company agreed to issue to the Investor a senior subordinated discounted promissory note in the principal amount of $5.3 million (the "Discount Note").

Pursuant to the Purchase Agreement, the Company agreed to use commercially reasonable efforts to obtain the consent of the holders of the Company's senior secured convertible promissory notes issued in August, 2005 (the "Senior Notes"), to permit the Company to grant a subordinated lien and security interest in all of the Company's and its subsidiaries' assets to the Investor (the "Consent").

The Company issued the Discount Note on May 18, 2006. Interest on the principal amount of the Discount Note accrues at 6.00% per annum payable quarterly in arrears, beginning July 2006 until the maturity date. The principal amount of the Discount Note will become due on the earlier of: (i) 18 months from the date of issuance; (ii) January 31, 2007, if the Company is unable to obtain the Consent; or (iii) the date on which the Company consummates a fundamental transaction, which is defined to include a transaction involving the sale of substantially all of its asset or any merger, consolidation or similar transaction involving the transfer of greater than 50% of the Company's outstanding voting securities. Also, in the event that that Company is unable to obtain the Consent prior to June 17, 2006, the interest rate will increase to 12.00% per annum.

Furthermore, the Discount Note provides that upon the occurrence of certain events, including the failure to make a timely payment or the failure to maintain the listing of the Company's stock on a satisfactory exchange or market including the OTC Bulletin Board, the interest rate will increase to 14.00% per annum.

The transaction resulted in net proceeds to the Company of approximately $3.7 million, after deducting the estimated offering costs and fees. The Company intends to use these proceeds for working capital and general corporate purposes, subject to certain exceptions and limitations set forth in the Purchase Agreement.

The foregoing is only a summary of the Purchase Agreement and the Discount Note. You are urged to read each of the agreements attached to this report as Exhibit 10.1 and 4.1 in its entirety for a more complete description of the terms and conditions of such agreement.

The information regarding the Purchase Agreement and the Discount Note set forth above does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement and the Discount Note, copies of which are filed as Exhibits 10.1 and 4.1, respectively, to this current report, and are incorporated herein by reference.



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information provided in response to Item 1.01 of this current report on Form 8-K is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

4.1 Senior Subordinated Discount Note, dated May 18, 2006

10.01 Note Purchase Agreement, dated May 15, 2006
 
Questo è quel che già si sapeva..non è un finanziamento meraviglioso ma è il massimo che Vert potesse ottenere..
Aspettiamo di conoscere il resoconto dell'assemblea di ieri.. reverse split ecc.ecc.
 
c'è movimento al ribasso purtroppo oggi...
 
domino ha scritto:
c'è movimento al ribasso purtroppo oggi...
Niente mmovimento ..si cede un cent per colpa degli indici,volumi a zero,calma piatta. Serve una qualche news!
 
Tra parentesi venerdi c'è stato il meeting , dovevano votare il reverse ed altre cose importanti..
Non hanno fatto nemmeno una press release..non mi sembra un bel comportamento.
Ne taglio metà , quelle che ho preso a 0.28$.
La serietà del management è importante, questa cosa mi infastidisce molto.
 
oggi apre a 0.3 not too bad!!! OK!
 
scioff ha scritto:
oggi apre a 0.3 not too bad!!! OK!
Ma nessun volume,quindi si riscende..occasione buona per alleggerire temo.
Vi faccio notare che questo titolo avrebbe dovuto essere delistato da qualche giorno , e sopravvive solo perchè doveva essere deciso uno split.
Ora,venerdi scorso si è tenuta un'assemblea dove veniva votata questa proposta ed un'altra cruciale ( emissione nuovi titoli oltre il 20% per ripagare debiti ).. da allora però la società è in silenzio,non si sa nulla dell'assemblea.
Rendiamoci conto che potra anche rimbalzare ad 1$ , però potrebbe essere delistata anche domani se il Nasdaq perde la pazienza! Ripeto,un management un minimo serio non fa così.
 
Indietro