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Technology Stocks : Energy Conversion Devices
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To: Zudite who wrote (7939)2/28/2005 10:06:55 AM
From: Extra Pale   of 8393
 
Thanks for your comments. BTW, the private placement was a way to realize liquidity for payment made by Chevron to expand marketing rights for COBAYSIS, jointly owned by Chevron and ener. Payment was made by using stock options previously sold by ener to Chevron. Its a convoluted story - tho with a very happy ending, IMO.

From ener p.r. regarding the private placement:
After ECD Ovonics exercises the above-mentioned option, the net proceeds from this private placement will be approximately $67.9 million (prior to the deduction of fees and expenses) and the post-exercise number of shares outstanding will have increased by 713,367 shares, or 2.8%.
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