wow--is all i cansay
Transactions With Significant Shareholders
In January, 2000, Alexander/Rachel L.L.C. purchased 1,862,249 shares of
common stock of Net2Wireless Corporation and notes that have been converted into
1,040,387 shares of common stock for an aggregate consideration of $453,345,
pursuant to a stock and note purchase agreement, dated as of December 15, 1999,
between Net2Wireless Corporation and a group of investors listed therein. The
loan bore interest at the rate of 6-1/2% per annum.
In January, 2000, Meridian Trading Investment Ltd., an entity controlled by
Oded Graucher and the holder of 234,036 shares issued in connection with the
formation of Net2Wireless, purchased 545,118 shares of common stock of
Net2Wireless Corporation and notes that have been converted into 304,313 shares
of common stock for an aggregate consideration of $132,643, pursuant to a stock
and note purchase agreement, dated as of December 15, 1999, between Net2Wireless
Corporation and a group of investors listed therein. The loan bore interest at
the rate of 6-1/2% per annum. On March 20, 2000, Net2Wireless granted options to
Meridian to purchase 214,815 shares of common stock at a price of $1.86 per
share, below the fair market value of the common stock of Net2Wireless of $27.93
as of the date of grant. Mr. Graucher is also entitled to receive 125,000 of the
1,000,000 shares to be issued to finders in connection with the introduction of
Sensar and Net2Wireless.
In January, 2000, NBDB LLC purchased 1,862,249 shares of common stock of
Net2Wireless Corporation and notes that have been converted into 1,040,387
shares of common stock for an aggregate consideration of $453,345, pursuant to a
stock and note purchase agreement, dated as of December 15, 1999, between
Net2Wireless Corporation and a group of investors listed therein. The loan bore
interest at the rate of 6-1/2% per annum.
Transactions With Directors and Executive Officers
On formation, Cedar Investment Services Ltd., a British Virgin Islands
corporation controlled by Nechemia Davidson, who is a director of Net2Wireless
Corporation, was issued 5,428,127 shares of Net2Wireless. On December 7, 1999,
Cedar Investment Services Ltd., was granted an option to purchase 3,222,222
shares of common stock at an exercise price of $1.86 per share, above the fair
market value of the Net2Wireless common stock as of the date of grant. |
