StarBase Sells $3 Million in Debt Securities

StarBase Corp., which provides products for computer application and Web site development teams, said Tuesday that it sold to an institutional investor $3 million of convertible debt securities that carry a 6% interest rate.

The investor in the private placement wasn’t identified.

The company said it also completed an offer to exchange common stock for warrants to buy shares, giving holders one share of common stock for every three warrants.