Benzinga's Microcap Movers for Wednesday September 26, 2012

Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves: AirMedia Group Shares of AirMedia Group AMCN, the China-based outdoor media company, rose 10.28% Wednesday on 3 times average volume. AirMedia Group announced Wednesday that its board of directors has approved to increase the size of its previously announced share repurchase program to $40 million from $20 million and to extend the termination date of the share repurchase program to March 20, 2014 from March 20, 2013. The other terms of the share repurchase program will remain unchanged. Under the expanded share repurchase program, AirMedia has been authorized, but not obligated, by its board of directors to repurchase a total of up to $40 million worth of its own outstanding American Depositary Shares ("ADSs") until March 20, 2014. AirMedia Group closed at $1.93 on Wednesday. Nexxus Lighting Shares of Nexxus Lighting NEXS, the Charlotte, NC LED lighting company, rose 47.64% Wednesday on 15 times average volume. On September 12, 2012, Nexxus Lighting entered into an Investment Agreement with RVL 1 LLC, an affiliate of Aston Capital, LLC. On September 25, 2012, the Company and the Investor closed the transactions contemplated by the Investment Agreement, and the Company issued to the Investor 600,000 shares of newly-created Series B Convertible Preferred Stock, $.001 par value per share in consideration of a cash payment of $6 million. The Preferred Stock is convertible into shares of the Company's common stock, $.001 par value per share at a conversion price per share equal to $0.13, subject to certain anti-dilution adjustments. Also, in connection with the Closing, on September 25, 2012, the Company and the Investor entered into a Registration Rights Agreement, whereby the Company granted the Investor certain demand and tag-along registration rights with respect to the shares of Common Stock issuable upon conversion of the Preferred Stock. The Registration Rights Agreement is attached hereto as Exhibit 10.1, and incorporated herein by reference. Nexxus Lighting closed at $0.87 on Wednesday. Northwest Biotherapeutics Northwest Biotherapeutics NWBOD, the Bethesda, MD biotechnology company, completed a 1:16 reverse split on Wednesday. On September 24, 2012, Northwest Biotherapeutics filed a Certificate of Amendment to its Seventh Amended and Restated Certificate of Incorporation with the Secretary of State of Delaware, pursuant to which (i) the number of authorized shares of the Company's blank check preferred stock increased from 20,000,000 to 40,000,000, and (ii) effective September 25, 2012, the Company effected a one-for-sixteen reverse split of its issued and outstanding common stock. The reverse split will not change the number of authorized shares of the Company's common stock. Northwest Biotherapeutics closed at $5.50 on Wednesday. The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.