-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueComing to Terms With AI
In this issue, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
Box Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Irvine Sensors Raises $1 Million in Equity Financing
December 31, 2002 |Estimated reading time: Less than a minute
Costa Mesa, Calif. -- Irvine Sensors Corp. has secured approximately $1.05 million of net equity financing in a private placement to an institutional investor.
The financing involved the sale of 10,000 shares of convertible preferred stock, at $120 per share. Each share of convertible preferred stock is initially convertible to 100 shares of common stock, or an aggregate of 1 million common shares, subject to adjustment based on a 15 percent discount from the volume weighted average trading price of Irvine Sensors common stock for the five trading days prior to the conversion date. Because of limits on the conversion feature, the preferred stock will be convertible to a minimum of 800,000 common shares and a maximum of 1,411,765 common shares. On the date of the financing, the preferred stock was convertible into 800,000 common shares. The preferred stock is non-voting and bears no dividend.
Irvine Sensors Corp. is primarily engaged in research and development related to high density electronics, miniaturized sensors and cameras, optical interconnection technology, high speed routers, image processing, and low-power analog and mixed-signal integrated circuits for diverse systems applications. For more information, visit www.irvine-sensors.com.