Investors satisfy short-swing profit demands from Isco International stock sale

By Sheri Kasprzak

New York, Aug. 9 - Isco International, Inc. said Tuesday that the investors in a $4.4 million private placement of shares have paid short-swing profits due under certain conditions of the offering.

Grace Brothers Ltd., Elliott Associates LP and Elliott International LP paid a total of $626,522 in short-swing payments.

According to the purchase agreement, entered into on July 25, the investors agreed to buy 20 million shares at $0.22 each. That transaction closed on Aug. 2.

The short-swing payments were made after Isco issued a letter of demand.

Based in Elk Grove Village, Ill., Isco International develops products that eliminate or reduce interference in wireless devices.

On Tuesday, its stock lost a penny to end at $0.25.

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