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Tix Corporation Message Board

  • johnnygodinho johnnygodinho Mar 4, 2010 7:06 PM Flag

    8-K on the acquisition

    ITEM 3.02 Unregistered Sales of Equity Securities

    On March 1, 2010, in connection with the acquisition by the Company of the assets of All Access Entertainment, LLC (the “Target”), the Company issued to the sole member of the Target a secured convertible note (the “Note”) in the principal amount of $1,000,000. At the option of the holder, the Note is convertible into shares of the Company’s Common Stock at a conversion price per share equal to the daily average closing sale price of the Company’s Common Stock for the thirty day period prior to the date of conversion, but in no event less than $3.00. The Note was not, and any shares of Common Stock issuable upon conversion of the Note will not be, registered under the Securities Act of 1933 as amended, in reliance upon the exemption from registration contained in Section 4(2) thereof and Regulation D promulgated thereunder.

1.50+0.07(+4.90%)Oct 30 2:14 PMEDT

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