Stevia First Corp Announces Private Placement With Institutional Investors
Stevia First Corp announced that it has entered into definitive agreements with institutional investors for the private placement of $500,000 in convertible debentures and warrants to purchase up to an aggregate of 1,000,000 shares of its common stock. The Company plans to use the proceeds from this financing to expand research and development operations as well as for general corporate purposes. The offering is expected to close by November 1, 2012. The convertible debentures are convertible into an aggregate of 1,000,000 shares of the Company's common stock at a conversion price of $0.50 per share, and the warrants will be exercisable immediately at $0.70 per share, in both cases subject to adjustment and further conditions described within the respective documents. The convertible debentures bear no interest and, if not converted, shall mature in two years, and the warrants shall have a term of five years from the issue date.
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