Digital Power Corporation DPW was halted three times Friday, first on company news and then for volatility. Around 11:45 a.m. ET, the company released news of multiple deals with investors and financiers.
According to a press release, the transactions included:
- An exchange deal with WT Johnson & Sons for a $600,000 convertible promissory note and another note for $1.668 million in exchange for cancellation.
- A subscription deal with an investor for the $800,000 sale of 640,000 shares of common stock.
- An exchange agreement with investors for 1,523,852 shares of common stock and warrants for 380,963 shares of common stock at $1.10 per share.
- An investor agreement for 150,000 shares of restricted common stock and a 10-percent Original Issue Discount Convertible Debenture for $500,000.
Digital Power’s stock has been volatile in recent days, rising 86 percent over the last week amid ultimately false rumors of an Amazon.com, Inc. AMZN deal with its Coolisys Technologies subsidiary.
Coolisys’ unveiling of cryptocurrency hardware and a swell in Digital Power’s defense orders catalyzed additional spikes.
Shares have resumed at the time of publication and were trading down 8.53 percent at $3.11.
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