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DayStar
Announces Proposed Public Offering of
Common Stock
HALFMOON, N.Y., Oct. 2 /PRNewswire-FirstCall/
-- DayStar Technologies, Inc. (Nasdaq:
DSTI) announced today the filing
with the Securities and Exchange
Commission of an amended registration
statement on Form SB-2 pursuant to which
the company intends to offer 15,000,000
shares of common stock. In connection
with the offering, DayStar will grant
the underwriters an option to purchase
up to an additional 2,250,000 shares of
common stock to cover any
over-allotments.
DayStar plans to use the net proceeds
from the offering for the repayment in
full of $9.2 million of existing
indebtedness for borrowed funds and to
engineer to-scale and manufacture the
company's proprietary deposition tool.
The company intends to use the remaining
net proceeds from the offering for the
construction of a 25MW manufacturing
line, working capital and other general
corporate purposes.
ThinkEquity Partners LLC will serve as
the sole bookrunning lead manager for
the proposed offering.
A registration statement relating to
these securities has been filed with the
Securities and Exchange Commission but
has not yet become effective. The
registration statement on Form SB-2 is
available on the Securities and Exchange
Commission's website at
http://www.sec.gov.
These securities may not be sold nor may
offers to buy be accepted prior to the
time the registration statement becomes
effective. This news release shall not
constitute an offer to sell or the
solicitation of an offer to buy, nor
shall there be any sale of these
securities in any state or jurisdiction
in which such offer, solicitation or
sale would be unlawful prior to
registration or qualification under the
securities laws of any such state or
jurisdiction.
When they become available, copies of
the prospectus for the offering may be
obtained from ThinkEquity Partners LLC,
600 Montgomery Street, 8th Floor, San
Francisco, CA 94111 or
prospectus@thinkequity.com.
About DayStar Technologies, Inc.
DayStar Technologies, Inc. is engaged in
the development, manufacturing, and
marketing of photovoltaic products based
upon CIGS thin film semiconductor
technology.
This release contains certain
forward-looking statements of expected
future developments, as defined in the
Private Securities Litigation Reform Act
of 1995. The forward-looking statements
in this release include the intention of
the company to offer and sell shares of
common stock. These forward-looking
statements involve risks and
uncertainties that could cause the
actual results to differ materially from
those anticipated by these
forward-looking statements. Actual
events or results may differ materially
as a result of many factors, including
but not limited to the risk that the
underwriters decide to not proceed with
or consummate the proposed offering due
to general economic conditions, stock
market conditions or otherwise.
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