DayStar Technologies, Inc. Closes Initial Public Offering
12 Fevereiro 2004 - 3:26PM
PR Newswire (US)
DayStar Technologies, Inc. Closes Initial Public Offering GRASS
VALLEY, Calif., Feb. 12 /PRNewswire-FirstCall/ -- DayStar
Technologies, Inc. announced yesterday that it has closed its
initial public offering of 2.1 million units consisting of one
share of common stock, one Class A redeemable warrant, and two
Class B non-redeemable warrants. The units were priced and sold at
$5.00 per unit. These units began trading Friday, February 6, 2004
on The Nasdaq Stock Market under the symbol DSTIU. The net proceeds
to the company will be approximately $8.8 million, after deducting
estimated expenses and underwriting discounts for the offering. The
company has granted the underwriters 45-day option to purchase up
to an additional 315,000 units to cover over-allotments, if any.
Paulson Investment Company acted as lead manager, with I-Bankers
and Chicago Investment Group acting as co-managers of the offering.
A Form SB-2 registration statement relating to these securities has
been filed with and declared effective by the Securities and
Exchange Commission. DayStar Technologies, Inc. has developed a
thin-film, copper-indium- gallium-selenide solar cell, known as a
CIGS solar cell, for the direct conversion of sunlight into
electricity. The company isdeveloping a high- volume manufacturing
process that it believes could result in cell production volumes of
well over 100 megawatts per year at a cost below $0.50 per watt.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the common stock of DayStar
Technologies, Inc., nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction. Copies of
the final prospectus relating to the offering may be obtained from
Paulson Investment Company, 811 S.W. Naito Parkway, Suite 200,
Portland, OR 97204. DATASOURCE: DayStar Technologies, Inc. CONTACT:
Investor Relations of DayStar Technologies, Inc., +1-530-271-5557
or Web site: http://www.daystartech.com/
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