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HALFMOON, N.Y., Oct. 26
/PRNewswire-FirstCall/
-- DayStar Technologies,
Inc. (Nasdaq:
DSTI)
announced today the
pricing of an
underwritten public
offering of 15,000,000
shares of common stock,
all of which are being
sold
by the company at $4.25
per share before
underwriting discounts
and
commissions. DayStar has
granted the underwriters
a 30-day option to
purchase up to an
additional 2,250,000
shares 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
acted as bookrunning
lead manager for the
offering with Broadpoint
Capital, Inc. acting as
co-manager.
A registration statement
relating to these
securities has been
filedand declared effective
by the Securities and
Exchange Commission and
is
available on the
Securities and Exchange
Commission's website at
http://www.sec.gov.
A final prospectus
relating to this
offering may be
obtained from
ThinkEquity Partners
LLC, 600 Montgomery
Street, 8th Floor,
San Francisco,
CA 94111 or
prospectus@thinkequity.com,
or from Broadpoint
Capital, Inc., One Penn
Plaza, 42nd Floor, New
York, NY 10119 or
equity.syndicate@broadpointsecurities.com.
This press release shall
not constitute an offer
to sell or the
solicitation of an offer
to buy, any of the
securities, nor shall
there be
any sale of these
securities in any State
in which such offer,
solicitation
or sale would be
unlawful prior to
registration or
qualification under the
securities laws of any
such State. Any offer
will be made only by
means of
a prospectus included in
the registration
statement.
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 news release
contains forward-looking
statements that are made
pursuant to the safe
harbor provisions of the
Private Securities
Litigation
Reform Act of 1995.
Forward-looking
statements describe
future
expectations, plans,
results, or strategies
and are generally
preceded by
words such as "future,"
"plan" or "planned,"
"will" or "should,"
"expected,"
"anticipates," "draft,"
"eventually" or
"projected." You are
cautioned that such
statements are subject
to a multitude of risks
and
uncertainties that could
cause future
circumstances, events,
or results to
differ materially from
those projected in the
forward-looking
statements,
including risks that we
will not be able to
manufacture our products
or
that they will not
perform as expected, and
other risks identified
in our
registration statement
on Form SB-2 and other
filings with the SEC.
You
should consider these
factors in evaluating
the forward- looking
statements
included herein, and not
place undue reliance on
such statements. The
forward-looking
statements are made as
of the date hereof and
DayStar
Technologies, Inc.
undertakes no obligation
to update such
statements. |
