HNH also offered, although the Company had not solicited, a bridge loan facility for up to $50 million at an annual rate of 10%, increasing at a rate of 1% per month commencing on April 1, 2013, which would mature upon the earlier of the closing of the rights offering and September 30, 2013. In addition, upon entering into the bridge loan the September 18 Letter required the Company to issue to HNH warrants to acquire up to 19.9% of the Company’s Common Stock for an exercise price of $0.01