Paragraph: (News/WSJ-masc-wsj_0168-2.txt)
Sent 1: Meridian National Corp. said it sold 750,000 shares of its common stock to the McAlpine family interests, for $1 million, or $1.35 a share.
Sent 2: The sale represents 10.2% of Meridian's shares outstanding.
Sent 3: The McAlpine family, which operates a number of multinational companies, including a London-based engineering and construction company, also lent to Meridian National $500,000.
Sent 4: That amount is convertible into shares of Meridian common stock at $2 a share during its one-year term.
Sent 5: The loan may be extended by the McAlpine group for an additional year with an increase in the conversion price to $2.50 a share.
Sent 6: The sale of shares to the McAlpine family along with the recent sale of 750,000 shares of Meridian stock to Haden MacLellan Holding PLC of Surrey, England and a recent public offering have increased Meridian's net worth to $8.5 million, said William Feniger, chief executive officer of Toledo, Ohio-based Meridian.
Question: What will be the increase in the conversion price per share if the loan is extended? (true/0)
Question: To whom did Meridian sell 10.2% of its shares? (false/1)
Question: How many total shares of stock has Meridian sold to two companies recently? (true/2)
Last updated: Mon Apr 16 04:55:33 EDT 2018
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