DayStar Technologies has priced a public offering of 15,000,000 shares
of common stock, all of which are being sold by the company at $4.25
per share at an estimated value of $63.8 million.
DayStar plans to use the net proceeds from the offering for the
repayment in full of $9.2 million of existing indebtedness for borrowed
funds and to engineer to-scale and manufacture the company’s
proprietary deposition tool. The company intends to use the remaining
net proceeds from the offering for the construction of a 25MW CIGS
photovoltaic manufacturing line, working capital and other general
corporate purposes.
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