New Issue: Advance Display wraps final $1 million tranche of $4 million preferreds sale

By Devika Patel

Knoxville, Tenn., July 2 - Advance Display Technologies, Inc. raised an additional $1 million as part of a $4 million private placement of preferred stock with Lawrence F. DeGeorge, a director of the company, which priced on Feb. 25, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

As previously reported, DeGeorge agreed on Feb. 25 to buy 27,273 shares of the company's series G preferred stock at $110 per share, which he bought on Feb. 27 for $3 million.

DeGeorge also agreed to buy up to 9,091 additional shares at the same price, upon the company's request, at any time during this year.

On June 30, in response to a June 25 request made by the company, DeGeorge bought the additional shares for $1 million, concluding the private placement.

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
Settlement date:	Feb. 27 (for $3,000,030), June 30, (for $1,000,010)
Stock symbol:	OTCBB: ADTI
Stock price:	$0.20 at close Feb. 27

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