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News

31 October 2007

 

DayStar prices public offering to raise $63.8m

DayStar Technologies Inc of Halfmoon, NY, USA, which is developing copper indium gallium diselenide (CIGS) photovoltaic products, has priced its underwritten public offering of 15 million shares of common stock being sold by the company. At $4.25 per share, gross proceeds (before underwriting discounts and commissions) should amount to $63.8m. To cover any over-allotments, DayStar has also granted the underwriters a 30-day option to purchase up to a further 2.25 million shares (worth $9.6m).

DayStar plans to use the net proceeds for the repayment of $9.2m of existing indebtedness for borrowed funds and to engineer to-scale and manufacture its proprietary deposition tool. The remaining proceeds will be used for the construction of a 25MW manufacturing line, working capital and other general corporate purposes.

Obtain a prospectus from ThinkEquity Partners LLC by e-mailing prospectus@thinkequity.com or Broadpoint Capital Inc by e-mailing equity.syndicate@broadpointsecurities.com.

See related items:

DayStar appoints CEO to succeed founder and chairman

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Visit: www.daystartech.com