Key Developments For DayStar Technologies, Inc.
DayStar Technologies, Inc. (DSTI.O) (Consolidated Issue listed on NASDAQ Capital Market)
DayStar Technologies Inc. Announces Termination Of Letter Of Intent With EPOD Solar, Inc. And Management Changes
DayStar Technologies Inc. announced that its Board of Directors agreed to accept a notice to terminate a previously announced letter of intent regarding a proposed transaction with EPOD Solar, Inc. (Canada). DayStar's Board of Directors took these actions in the best interests of all DayStar shareholders. DayStar will continue to proactively pursue other financing options and strategic relationships which it believes are in the best interests of all DayStar shareholders. DayStar will provide additional updates on such initiatives as and when appropriate. DayStar's Board of Directors appointed Mr. Peter Alan Lacey to Chairman of the Board. Former Chairman of the Board, Dr. Robert G. Aldrich, will retire from the DayStar Board effective October 20, 2009. DayStar's Board of Directors accepted the resignation of Michael Matvieshen as Chief Executive Officer (CEO) of DayStar. Daystar's Board of Directors have appointed William S. Steckel, its current Chief Financial Officer, to the additional positions of President and CEO
DayStar Technologies Inc. Appoints Michael Matvieshen As New Chief Executive Officer
DayStar Technologies Inc. announced that it has appointed Michael Matvieshen as Chief Executive Officer (CEO) of Daystar Technologies. In anticipation of the closing of the EPOD Solar Inc., Daystar transaction announced on September 21, 2009, Robert Aldrich resigned as CEO of the Company and the Board of Directors appointed Michael Matvieshen to serve as CEO and a Director of the Company pursuant to the terms of the LOI.
DayStar Technologies Inc. Announces Chief Executive Officer-Form 8-K
DayStar Technologies Inc. reported in its Form 8-K that on September 21, 2009, Robert Aldrich resigned as Chief Executive Officer of the Company and the Board of Directors of the Company appointed Michael Matvieshen to serve as Chief Executive Officer of the Company. Mr. Matvieshen was appointed in connection with the transactions contemplated in the Letter of Intent (LOI). Mr. Matvieshen informed the Company on September 25, 2009 that he will not assume the position of Chief Executive Officer of the Company until certain transactions contemplated by the LOI are completed.
DayStar Technologies Inc. Executes Letter of Intent With EPOD Solar, Inc.; Enters Into Bridge Financing Agreement; Michael Matvieshen To Become Chief Executive Officer
DayStar Technologies Inc. announced that it has executed a letter of intent (Letter of Intent) with EPOD Solar Inc., a British Columbia corporation, regarding a proposed transaction or series of related transactions intended to result in the combination of the businesses of EPOD Solar and DayStar (the Transaction). Simultaneously with the execution of the Letter of Intent, and in connection with the Transaction, DayStar has also entered into a Purchase Agreement and Security Agreement with Mr. Peter Alan Lacey to provide a bridge loan of $2,000,000. Upon successful completion of negotiations and due diligence, the parties intend to sign definitive agreements and complete the Transaction as soon as practicable following any required approval by the holders of DayStar's common stock. Upon completion of the bridge loan, Michael Matvieshen has been appointed Chief Executive Officer of DayStar Technologies, Inc. Mr. Robert G. Aldrich will remain in his role as Chairman.
Veeco Instruments, Inc. Completes Purchase Of Certain Assets Of DayStar Technologies, Inc.
Veeco Instruments, Inc. announced that it has completed a transaction to purchase certain assets of DayStar Technologies, Inc., in order to accelerate its penetration of the rapidly growing copper, indium, gallium, selenium (CIGS) solar market. Veeco has purchased selected equipment, taken over leased facilities and hired DayStar`s R&D group in Clifton Park, New York. The terms of the acquisition were not disclosed.
