DayStar May Offer Stock to Investors
The Times Union reports that shareholders for DayStar Technologies Inc. will vote on how the company will pay off a $15 million investment by offshore hedge fund Castlerigg Master Investments Ltd. DayStar can repay the investment through cash or stock. DayStar hopes shareholders will approve the issue of approximately 2 million shares to repay principal and interest on the note.
DayStar recently made a deal with Blitzstrom GmbH of Germany to increase its order from 30 megawatts of solar cells to 130 megawatts through the end of 2010 and is also planning a new factory in Malta.
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