Manufacturing Industry
Zoltek Companies Reports Closing of Additional Financing.
Advanced Materials & Composites News, March, 2004
March 30, 2004 - Zoltek Companies, Inc. reported that $5.0 million of the previously announced agreement for the private placement of $5.75 million aggregate principal amount of 6% convertible debentures due September 2006 has been funded. The Company expects that the remaining $750,000 will be completed during early April 2004.
The debentures are convertible into shares of Zoltek's common stock at a conversion price of $6.25 per share. In addition, the Company agreed to issue to the debenture investors warrants to purchase an amount of shares of the Company's common stock equal to 25% of the number of shares issuable upon conversion of the debentures, at an exercise price of $7.25 per share. The agreement is an element of the Company's previously announced...
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