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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Mace Security International Inc (QB) | USOTC:MACE | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0005 | -0.88% | 0.0565 | 0.0565 | 0.06 | 0.05825 | 0.0565 | 0.0565 | 7,489 | 18:45:29 |
New Terms More Favorable Than Prior Financing, While Enabling Potential New Product and Acquisition Opportunities
Mace Security International, Inc., the owner of the renowned “Mace® Brand” which manufactures and distributes pepper sprays, security cameras and other less-lethal devices to consumers and law enforcement, announced today that it successfully closed on $2 Million of stand-by financing. The Company has obtained commitments from a group of private investors, including some members of its Board of Directors, for stand-by financing of a two-year put arrangement for $2 Million of convertible notes.
If the Company chooses to exercise the put prior to its January 15, 2017 expiration, the notes issued will bear an annual interest cost of 4%, mature on December 31, 2019 and have a right to convert into Mace shares prior to the maturity date. The Company has no obligation to exercise the put and borrow the $2 Million, but has the option to do so if its Board of Directors deems it advantageous to the Company.
Mace’s President and CEO, John J. McCann, commented, “We are pleased to establish this stand-by financing, with interest rate, maturity date and conversion price terms all more favorable than the convertible debt and potential issuance of 7.3 million shares we recently retired with our excess cash. Enabling Mace to quickly move on potential new product or acquisition opportunities is one more step that positions the Company for growth.”
About Mace Security International, Inc.(OTCPINK: MACE) Mace® Brand Means Security
Mace Security International, Inc., located in Cleveland, Ohio, is a diversified manufacturer and provider of personal defense and security products to consumer and business market segments under the world renowned Mace® Brand.
Mace® Brand directly distributes and supports its branded products and services through strategically targeted customer channels that include mass market retailers, wholesale distributors, independent dealers, e-commerce marketers, and installation service providers.
Mace Security International, Inc.John J. McCann, President and Chief Executive Officer, 440-424-5322john@mace.com
1 Year Mace Security (QB) Chart |
1 Month Mace Security (QB) Chart |
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