Seeking Alpha

Andalay Solar secures $5M equity credit agreement, $200K convertible

  • Andalay Solar (WEST -4.7%) secures a $200K 8% convertible loan maturing in 2015. The conversion price is $0.02/share.
  • In conjunction, the firm entered into an equity credit agreement with Southridge Partners in which the firm has committed to buying up to $5M in WEST stock as a functional loan over the next 18 months. At drawdowns, Southridge will pay 90% of the average of the lowest closing bid price during a set 10 day period. (8-K)
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs