Bond Laboratories, Inc. (BNLB)
Today, BNLB surged (+0.61%) up +0.001 at $.165 with 16,200 shares in play thus far (ref. google finance Delayed: 11:10AM EDT September 18, 2013).
Bond Laboratories, Inc., an international provider of innovative and proprietary nutritional supplements for health conscious consumers, previously reported a recapitalization designed to simplify its capital structure and significantly reduce its cost of capital.
Convert half of the issued and outstanding shares of the Company's Series C Convertible Preferred Stock and accrued dividends at $0.25 per share;
Redeem half of the issued and outstanding shares of the Company's Series C Convertible Preferred Stock at par plus accrued dividends;
Redeem issued and outstanding shares of the Company's 10% Cumulative Perpetual Series B Preferred Stock at par plus accrued dividends;
In connection with the Series C Conversion at $0.25 per share, the Company has agreed to exchange/cancel 2,500,000 warrants for 625,000 common shares, thereby reducing the Company's diluted share count by 1,875,000 shares;
Complete a reverse stock split at a ratio of 10 for 1, as approved by shareholders at the recent annual meeting; and
Change the corporate name to FitLife Brands, Inc.
Bond Laboratories, Inc. (BNLB) 5 day chart:
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