Deadline looms for DayStar’s $25 million investment


The deadline for DayStar Technologies Inc. to raise $25 million, as outlined in a $4 million loan from an investment firm, is tomorrow.

A June 15 loan document that the Halfmoon-based solar cell manufacturer agreed to says under a section called “covenants and agreements” that by tomorrow the company “shall have consummated” a deal for $25 million in financing.

DayStar officials declined to comment today to the Times Union about the deadline. It is uncertain from the loan documents exactly what would happen to DayStar if it doesn’t raise the $25 million.

Shares of DayStar were trading at $5.10 this afternoon, down 2 cents for the day.

Larry Rulison

One Response

  1. kuntzwm1 says:

    so it seems that daystar is about to run out of ‘spin’ for the press, too bad, i tried to interest them in a deep pocket investor in Namibia who i understand has about $10 + million locked up in new york city
    bill kuntz
    Cray Engineering