Closing Statement for Note Issuance between Hyperdynamics Corporation and YA Global Investments, L.P.
Summary
This agreement documents the closing of a note issuance by Hyperdynamics Corporation to YA Global Investments, L.P. The parties confirm that all conditions for the closing have been met or waived. The gross proceeds from the note sale are $910,526, with specified fees deducted for monitoring, structuring, due diligence, and interest, resulting in $750,000 in net proceeds to Hyperdynamics. The funds are to be disbursed by wire transfer according to attached instructions. The agreement is signed by authorized representatives of both parties.
EX-10.7 10 ex10_7.htm EXHIBIT 10.7 ex10_7.htm
| Exhibit 10.7 | Closing Statement. |
CLOSING STATEMENT
February 6, 2008
The undersigned do hereby:
1. Acknowledge the acceptance of subscriptions from purchasers representing gross proceeds of $ from the issuance of Notes of HYPERDYNAMICS CORPORATION, a Delaware corporation (the “Company”).
2. Represent that all conditions precedent to closing of the Company’s offering of the Notes pursuant to the Securities Purchase Agreement have been satisfied or waived; and
3. Agree that gross proceeds shall be disbursed via wire transfer in immediately available U.S. funds, payable to the following parties in accordance with the respective wiring instructions attached hereto as Exhibit A:
| Gross Proceeds: | From YA Global Investments, L.P. | $ | 910,526 | ||
| Less: | Montioring Fee deposited in Escrrow Account | $ | (80,000 | ) | |
| Structuring Fee to Yorkville Advisors LLC | $ | (30,000 | ) | ||
| Due Diligence Fee to Yorkville Advisors LLC | $ | (5,000 | ) | ||
| 90 Days of Interest (20%) to Yorkville Advisors LLC | $ | (45,526 | ) | ||
| Sub-Total: | $ | 750,000 | |||
| Disbursements: | |||||
| Net Proceeds: | Net Proceeds Payable to the Company | $ | 750,000 |
[SIGNATURE PAGE IMMEDIATELY TO FOLLOW]
Hyperdynamics Corporation
By: /s/ Kent Watts
Name: Kent Watts
Title: President and CEO
YA Global Investments, L.P.
By: Yorkville Advisors, LLC
Its: Investment Manager
By: /s/ Mark Angelo
Name: Mark Angelo
Its: Portfolio Manager
