Westinghouse Solar to cut conversion price of series B preferreds

By Marisa Wong

Madison, Wis., Aug. 14 - Westinghouse Solar, Inc. will lower the conversion price of its series B 4% convertible preferred stock to $0.25 per share from $0.60 per share.

According to an 8-K filing with the Securities and Exchange Commission, the reduced conversion price is the result of a $500,000 registered sale of common stock.

After the adjustment, the outstanding series B preferreds will be convertible into 8,181,670 shares of common stock.

Based in Campbell, Calif., Westinghouse Solar designs and manufactures solar power systems and solar panels.

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