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Article: Manufacturer of truck safety system gets $5 million equity line - Puget Sound Business Journal (Seattle):
- Article from:
- Puget Sound Business Journal
- Article date:
- November 20, 2001
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Safe Transportation Systems Inc., which has developed a mechanical system designed to prevent large trucks from jackknifing, has secured a $5 million equity line of credit with which it will set up marketing and sales of its product. The Bellingham company said it is able to draw from the financing, provided by from New York-based Cornell Capital Partners LP, at any time over the next two years provided draw-downs are five days apart. The company didn't say how many shares of stock it is providing to the investor in exchange for the cash. Its ...
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