Financially strapped display technology supplier eMagin Corp. has entered into definitive agreements with investors for the purchase of $9.14 million of common stock and warrants.
Under the agreements, investors agreed to purchase 16,623,636 shares of common stock at a price of 55 cents per share and warrants to purchase up to 6,649,455 shares of common stock at an exercise price of $1.00 per share exercisable after seven months and expiring Oct. 20, 2010. The investors will also receive warrants to purchase up to 3,324,727 shares at an exercise price of $1 per share exercisable after March 31, 2007, and expiring Oct. 20, 2010.
Posted: Oct 20,2005 by Ron Mertens
