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Article: Solid State Announces Debt/Equity Financing.
- Article from:
- Business Wire
- Article date:
- October 17, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CALGARY, ALBERTA--(BUSINESS WIRE)--Oct. 17, 1996-- Solid State Geophysi(TSE SSS. ) Solid State Geophysical Inc. today announced completion of an equity/debt financing, which provides Solid State with U.S. $12,000,000. The financing was provided by Elliott Associates, L.P. ("Elliott"), a Delaware limited partnership, and Westgate International, L.P. ("Westgate"), a Cayman Islands limited partnership. Elliott acquired 3,044,444 common shares of Solid State at an aggregate acquisition cost of U.S. $3,000,000 and Elliott and Westgate were issued a total of 125,000 warrants to purchase up to 125,000 common shares exercisable at a price of CN $1.65 per common share, on or ...