Published on 1/2/2008 in the Prospect News PIPE Daily.
New Issue: Solar Thin Power nets $3.35 million in sale of shares, warrants
By Devika Patel
Knoxville, Tenn., Jan. 2 - Solar Thin Power, Inc. settled a private placement of stock and warrants on Dec. 19, netting $3.35 million, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 3,385,000 common shares to six investors, the 8-K said. The investors also received warrants to buy another 3,385,000 shares at $3.30 apiece for five years.
Solar Thin Power is a subsidiary of Solar Thin Films, Inc., which manufactures and markets solar panel equipment and is based in Kirkland, Wash.
| Issuer: | Solar Thin Power, Inc.
|
| Issue: | Common stock, warrants
|
| Amount: | $3,348,396 (net)
|
| Shares: | 3,385,000
|
| Warrants: | For 3,385,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $3.30
|
| Settlement date: | Dec. 19
|
| Stock symbol: | OTCBB: SLTN (Solar Thin Films, Inc.)
|
| Stock price: | $1.35 at close Dec. 31
|
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