ECD Receives $26.9 Million from the Exercise of Warrants
05 5월 2005 - 5:41AM
PR Newswire (US)
ECD Receives $26.9 Million from the Exercise of Warrants ROCHESTER
HILLS, Mich., May 4 /PRNewswire-FirstCall/ -- Energy Conversion
Devices, Inc. (ECD Ovonics) (NASDAQ:ENER) announced today that it
has received $26.9 million from the exercise of warrants. Warrants
to purchase 1,928,462 shares of ECD Common Stock at an exercise
price of $13.96 per share were exercised by purchasers of units in
the private placements of November 2003 and January 2004. Each unit
consisted of one share of Common Stock and one warrant to purchase
a share of Common Stock. About ECD Ovonics: ECD Ovonics is the
leader in the synthesis of new materials and the development of
advanced production technology and innovative products. It has
invented, pioneered and developed its proprietary, enabling
technologies in the fields of energy and information leading to new
products and production processes based on amorphous, disordered
and related materials. ECD Ovonics' proprietary advanced
information technologies include Ovonic phase-change electrical
memory, Ovonic phase-change optical memory and the Ovonic Threshold
Switch. The Company's portfolio of alternative energy solutions
includes Ovonic thin-film continuous-web amorphous solar cells,
modules, panels and systems for generating solar electric power;
Ovonic NiMH batteries; Ovonic hydride storage materials capable of
storing hydrogen in the solid state for use as a feedstock for fuel
cells or internal combustion engines or as an enhancement or
replacement for any type of hydrocarbon fuel; and Ovonic fuel cell
technology. ECD Ovonics designs and builds manufacturing machinery
that incorporates its proprietary production processes, maintains
ongoing research and development programs to continually improve
its products and develops new applications for its technologies.
ECD Ovonics holds the basic patents in its fields. More information
on ECD Ovonics is available on http://www.ovonic.com/ . DATASOURCE:
Energy Conversion Devices, Inc. CONTACT: Stephan W. Zumsteg, Vice
President and CFO, or Ghazaleh Koefod, Investor Relations, of
Energy Conversion Devices, Inc., +1-248-293-0440 Web site:
http://www.ovonic.com/
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