Daystar Technologies Kills Current Shareholders With Conversion (DSTI)

DayStar Technologies, Inc. (NASDAQ: DSTI) entered into Purchase Agreements with several different investors to provide the company with money to further continue operations. In return, DayStar gave each investor a secured convertible promissory note and a warrant.

This kills current shareholders as the notes are convertible at $0.90 a share and the warrants are convertible at $1.25 a share.

The stock closed at $2.57 yesterday and in pre-market trading, Daystar shares are getting crushed, down 39 cents to $2.18.

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