INTERNET (esecurities.W) March 31, 1999 -- THRUSTMASTER INC - Annual Report (SEC form 10-K)
"...On January 28, 1999, and in connection with equity line financing provided to the Company, the Company issued to three investors an aggregate of 250,000 shares of the Company's Common Stock and warrants exercisable for an aggregate of 70,754 shares of Common Stock. The purchase price for the Common Stock issued to the investors was $16.00 per share. The exercise price applicable to 50% of the shares issuable upon exercise of the warrants is $20.00 per share; the exercise price for the remaining warrant shares is $22.40 per share.
The Company may elect, at its sole discretion, that two additional tranches of investment be made under the equity line. The amount of each additional tranche would range from $1,000,000 to $6,000,000, depending on the price of the Common Stock at the time of the investment...At December 31, 1998, the Company had cash and cash equivalents of $460,000 and working capital of $9,178,000...The Company believes that available funds together with borrowings from its new credit facility will be adequate to meet the Company's anticipated cash needs through the end of December, 1999..."
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