HARMONY MERGER CORP. (NASDAQ:HRMN) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item 2.03
|
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant |
The information included in Item 3.02 of this Current Report on
Form 8-K is also incorporated by reference into this Item 2.03 of
this Current Report on Form 8-K to the extent required.
| Item 3.02 | Unregistered Sales of Equity Securities |
On March 1, 2017, Harmony Merger Corp. (the Company) issued a
$60,000 convertible promissory note to Eric S. Rosenfeld, the
Companys Chief Executive Officer (the Lender), to evidence a loan
made by the Lender to the Company. The loan is unsecured,
non-interest bearing and is payable at the consummation by the
Company of a merger, share exchange, asset acquisition, or other
similar business combination, with one or more businesses or
entities (a Business Combination). Upon consummation of a
Business Combination, the principal balance of the note may be
converted, at the holders option, to units at a price of $10.00
per unit. The terms of the units will be identical to the units
issued by the Company in its initial public offering, except the
warrants included in such units will be non-redeemable and may be
exercised on a cashless basis, in each case so long as they
continue to be held by the Lender or his permitted transferees.
If the Lender converts the entire principal balance of the
convertible promissory note, he would receive 6,000 units. If a
Business Combination is not consummated, the note will not be
repaid by the Company and all amounts owed thereunder by the
Company will be forgiven except to the extent that the Company
has funds available to it outside of its trust account
established in connection with the initial public offering. The
issuance of the note to the Lender was exempt to Section 4(a)(2)
of the Securities Act of 1933, as amended.
About HARMONY MERGER CORP. (NASDAQ:HRMN)
Harmony Merger Corp. is a blank check company. The Company focuses on acquiring, through a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination, one or more businesses or entities. The Company has no other operations other than searching for a business combination. The Company has not generated any revenues. HARMONY MERGER CORP. (NASDAQ:HRMN) Recent Trading Information
HARMONY MERGER CORP. (NASDAQ:HRMN) closed its last trading session up +0.02 at 10.17 with 0 shares trading hands.
