Brief: Aspen Group Strengthens Balance Sheet To Begin 2020

Aspen

23/01/2020 21:26

Jan 23 (Reuters) - Aspen Group Inc  ASPU.O :
    * ASPEN GROUP STRENGTHENS BALANCE SHEET TO BEGIN 2020
    * ASPEN GROUP - ANNOUNCED CLOSING OF REFINANCING OF SECURED
$10
MILLION TERM LOAN BEARING INTEREST RATE OF 12%
    * ASPEN GROUP INC - EXCHANGED SECURED $10 MILLION TERM LOAN
FOR
$10 MILLION OF SECURED CONVERTIBLE NOTES AT AN INTEREST RATE OF
7%
    * ASPEN GROUP INC - CONVERTIBLE NOTES HAVE A 3 YEAR TERM AND
ARE
CONVERTIBLE INTO ASPEN GROUP COMMON STOCK AT CONVERSION PRICE OF
$7.15 PER SHARE

Source text for Eikon:  ID:nGNX1ny5Gp 
Further company coverage:  ASPU.O 

 ((Reuters.Briefs@thomsonreuters.com;))