FROM SYQUEST 8-K filed today
Note that Syjunk gave CC investments 2.2M shares if they would buy 1.5MM shares today. Quite a deal for someone.
This letter confirms that SyQuest Technology, Inc. ("SyQuest") and CC
Investments, LDC ("CCI") agree as follows:
1. CCI will exercise part of its warrant it received in connection with its
purchase of the Company's Convertible Preferred Stock, Series 5 at $3.0469
per share to acquire 1,500,000 shares of the Company's common stock, for
total proceeds of $4,570,350 (the "Proceeds")
2. Upon receipt of the Proceeds, plus an additional $78.52 representing the
par value for an additional 785,175 shares (the "Additional Common Shares")
of the Company's common stock, the Company will issue a total of 2,285,175
shares of common stock to CCI. |
