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Celsia Technologies Secures $8.14 Million in Funding
Thursday May 31, 8:00 am ET
Financing To Support Continued Technology Commercialization
MIAMI, May 31 /PRNewswire-FirstCall/ -- Celsia Technologies (OTC Bulletin Board: CSAT - News) today announced that on May 25, 2007 the company secured $8.14 million in financing through a private placement of convertible secured debentures. $6.85 million of the debentures were issued in exchange for cash, and the remaining debentures were issued in exchange for outstanding promissory notes of Celsia. The debentures are secured by substantially all of Celsia's assets and may be converted into shares of Celsia common stock at an initial conversion rate of $0.125 per share. The debentures were not registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. Further information with respect to the financing will be included in a Form 8-K to be filed with the U.S. Securities and Exchange Commission by Celsia on or prior to June 1, 2007.
About Celsia Technologies
Celsia Technologies is a full solution provider and licensor of thermal management products and technology for the PC, consumer electronics, lighting and display industries. The company is a leader in developing and commercializing next-generation cooling solutions built on patented micro thermofluidic technology. Celsia Technologies' extensive intellectual property portfolio includes patents registered in Korea, the U.S., Japan and Taiwan, with patents pending in the EU, Russia, India and China. For more information visit: celsiatechnologies.com.