DayStar Technologies (DSTI) Finds A Cash Infusion, Issues Investors Note/Warrant

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08:20:48 am on July 29, 2010

DayStar Technologies (DSTI) is just trying to stay alive and still in desperation mode it would appear.  The company announced it has entered into Purchase Agreements with investors who have loaned the company cash to fund ongoing research and operations.  In exchange for the loans, the company issued each investor a secured convertible promissory note and a warrant to purchase shares of the common stock at an exercise price of 1.25/share.  The notes are convertible into shares of common stock based on a conversion price of .90 and carry an interest rate of 10% per year.

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After a torrid run in recent days off the news it’s looking to manufacture offshore, shares of DSTI are down nearly 20% in pre-market trading.

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