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Article: PixTech Secures $15 Million Equity Line.
- Article from:
- Business Wire
- Article date:
- August 11, 1999
CopyrightCOPYRIGHT 1999 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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SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug. 11, 1999--
PixTech, Inc. (Nasdaq/NM and EASDAQ:PIXT) announced today that the Company has secured a $15 million equity-based line of credit with Kingsbridge Capital Limited, an institutional investor specializing in equity lines.
Under the terms of the equity line, PixTech can draw up to $15 million cash in exchange for PixTech's common stock, in increments over a two-year period. The Company may begin to draw on the facility upon registration of the Company's shares with the Securities and Exchange Commission.
The decision to draw on any of the funds and the timing and amount of any such draw are at ...