enters sale/leaseback with Domain Capital

By , December 16, 2010

It was just pointed out to me that has entered into a sale/leaseback arrangement with Domain Capital for their flagship domain,

Under the terms of the arrangement received $571,452.08 ($600,000 minus a security deposit) and will leaseback the domain over 5 years for monthly payments of $14,273.96. This means Domain Capital will be paid a total of $856,437.60 over the term of the lease with the  interest rate specified at 15.00%.

Domain Capital has them on a fairly tight leash, with being in default after missing any scheduled payment by just 10 days.

At the end of the lease will have the option to purchase the domain back for $1. traded on the AMEX stock exchange under the ticker BNX

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