OnScreen Technologies raises $10.3 million from convertibles sale, converts instrument to equity

By Sheri Kasprzak

New York, March 22 - OnScreen Technologies, Inc. said it settled a $10.3 million private placement of convertible debt and immediately converted the debt into shares.

The full terms of the deal could not be determined Wednesday.

Proceeds will be used for working capital and general corporate purposes.

Portland, Ore.-based OnScreen develops video displays using light-emitting diode technology.

The company's stock fell 14.71%, or $0.10, to end at $0.58 (OTCBB: ONSC).

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