View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
April 14, 1997updated 05 Sep 2016 1:08pm

OTHER FINANCINGS

By CBR Staff Writer

SyQuest Technology Inc, Fremont, California small form factor exchangeable disk cartridge pioneer, has won a little further relief from its financial woes from Fletcher International Ltd, which has injected another $5m investment on top of the $8.5m it pumped in last November. Fletcher gets 50,000 shares of SyQuest’s 5% cumulative convertible preferred stock, Series 3, at $100 per share. The shares are convertible into SyQuest common stock at a price equal to the five-day average NASDAQ closing price prior to the conversion, subject to a designated cap and floor price. SyQuest also issued Fletcher a seven-year warrant to buy further SyQuest common shares at a price computed using a formula similar to the formula used in converting the convertible preferred stock into common stock.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU