New Issue: Advance Display arranges $4 million private placement of preferreds

By Devika Patel

Knoxville, Tenn., Feb. 27 - Advance Display Technologies, Inc. has negotiated a $4 million private placement of preferred stock with Lawrence F. DeGeorge, a director of the company, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

DeGeorge agreed on Feb. 25 to buy 27,273 shares of the company's series G preferred stock at $110 per share. He also agreed to buy up to 9,091 additional shares at the same price, upon the company's request, at any time during the next year.

Based in Centennial, Colo., Advance Display manufactures fiber optic display screen systems.

Issuer:	Advance Display Technologies, Inc.
Issue:	Series G preferred stock
Amount:	$4,000,040
Shares:	36,364
Price:	$110
Warrants:	No
Investor:	Lawrence F. DeGeorge
Pricing date:	Feb. 25
Stock symbol:	OTCBB: ADTI
Stock price:	$0.20 at close Feb. 27

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