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EPV Solar delays deadline in exchange offer for 8% convertible PIK notes for fifth time
New York, May 4 - EPV Solar, Inc. said it extended for a fifth time its private offer to exchange its 8% convertible senior secured notes due 2010 for new 1% convertible senior secured pay-in-kind notes due 2016, stock and warrants.
EPV is also conducting a consent solicitation.
Following the latest extension, the exchange now expires at 11:59 p.m. ET on May 11. The deadline has been extended from May 4, April 27, April 13 and March 30. It was originally due to end at 5 p.m. ET on March 16.
As of 10 a.m. ET on May 4, investors had tendered $52.6 million, or 55.2%, of the notes, up from $50.5 million, or 52.9%, as of April 27, the previous announcement. That in turn was up from $33.5 million, or 35.1%, of the notes as of April 13 and $18.1 million, or 19%, of the notes on March 30.
The exchange is being conducted under Rule 144A.
EPV Solar is a Robbinsville, N.J.-based developer and manufacturer of amorphous silicon thin-film solar modules.
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