Hi All,
I'm a virgin... My first posting to SI. This was released on Wednesday. I'm not sure if this has any impact on the recent price or not. Comments welcome.
Wednesday July 16 4:38 PM EDT
Company Press Release
SIDT and Shareholders Reach Agreement on Conversion Price
AUSTIN, Texas--(BUSINESS WIRE)--July 16, 1997--SI Diamond Technology Inc. (NASDAQ:SIDT)
Wednesday announced it has reached agreement with the company's Preferred Series E and F shareholders,
establishing a fixed conversion price for both issues of $1.50.
``We appreciate the continued cooperation of our preferred holders and expect this agreement to eliminate the
opportunity to arbitrage the company's stock,'' said Marc W. Eller, the company's chairman and chief executive
officer.
The company is also clarifying that the shares of common stock registered in the June 9, 1997 Prospectus
include all shares and warrants registered in all previously filed prospectuses.
SI Diamond Technology Inc., is a holding company consisting of four wholly-owned subsidiaries. SIDT's
Diamond Tech One subsidiary provides wafer bumping and other micro-interconnect services for the
semiconductor and display industries. Through its Plasmatron subsidiary, the company also develops and
installs industrial coating systems for the semiconductor industry.
The Field Emission Picture Element Technology subsidiary is developing products for applications utilizing
SIDT's proprietary field emission technology. The Electronic Billboard Technology subsidiary is geared toward
the commercialization of SIDT's electronic digitized billboard technology.
SIDT can be reached at 12100 Technology Blvd., Austin, TX 78727, phone: 512/331-6200, fax:
512/250-2730.
This press release contains forward looking information within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, and is subject to the safe
harbor created by those sections. The company's actual results could differ materially from those projected in
the forward-looking information. Future results may be impacted by risk factors listed from time-to-time in
SIDT's SEC reports. |
