Dynasil Moves to Reduce Credit Cost
Company Prepays $2 Million of 10% Subordinated Debt
NEWTON, Mass., Oct. 7, 2015 /PRNewswire/ -- Dynasil Corporation of America ("Dynasil" or the "Company") (NASDAQ: DYSL), a developer and manufacturer of optics and photonics products, optical detection and analysis technology and components for the homeland security, medical and industrial markets, announced today that it made $2 million of optional prepayments on its $3 million principal amount of subordinated debt with Massachusetts Capital Resource Company ("MCRC"). In connection with the prepayment, MCRC agreed to reduce the interest rate from ten percent to six percent per year, as well as extend the term of the remaining debt one year to July 31, 2018.
Subsequent to the prepayment, as of October 1, 2015, the Company had $1 million of subordinated debt outstanding owed to MCRC. Additionally, the Company has $1.4 million senior debt owed to Middlesex Savings Bank on its $4 million line of credit. As a result of the prepayment and rate reduction, the Company expects to save approximately $240,000 annually.
"I am pleased with our continuing success at reducing both our total outstanding debt and our associated interest costs," said Peter Sulick, President and Chief Executive Officer of Dynasil. "With our improved financial condition, we look forward to future opportunities to grow Dynasil, both organically and through acquisitions."
ANd good luck with AVXL, a little too late if you ask me. losing almost 2mil per Q? But as you say we will see who is right. gltu
well good luck with that. I really doubt there will be no Xcede news till mid next year. In that time there will be two more Q's out. If DYSL puts out another profit, this will not stay under 3 dollar. I fear you will have to chase to buy your 12000 shares back.
I thought you where talking to me. I thought we where having a conversation. Man you are so wrong about everything. gltu
And why would i do that? I have my position in DYSL and I'm very happy with it. Waiting for Xcede news and other contracts, news. Better financial results Q after Q and a nice profit on my invested money here. I have my goal in mind for DYSL when it hits my target I will sell. You know: buy a stock don't marry it.
my avg on DYSL is 1.11... do some good DD on me my first buy was in sept 2013 for 0.81 dollar. Not that bad i think. you are kind of stupid if you say longs are losing money. We are at the highest pps in 3 years.
HUGE? 12000 shares. Talking about hidden... there is a 312,000 bid block at 1.90 hidden. Maybe time for you to take it out. MMs are in controle.
With the right Xcede news we can see 5 dollar in a blink.
rkill49 is so jealous it's making her kind of sweet. She would like us to come to her party I think. Just let us know when and where.
no i bought 700 at 2 dollar. They gave me 600 at 1.97 and 100 at 2... Believe what you want.
Well the year isn't over yet. 5 ANDAs waiting for over 45months now and 2 even over 55months. The FDA can't wait forever. But if you don't like IPCI, no problem. Just go short and hope for the best. gltu
DYSL has been up almost every day for the last 3 weeks. If you call me a pumper, than I sure can call you a basher. Nothing worse than be something you hate the most cause pumpers and bashers are all the same, lying for there own profit.
C.luke44 for the last time, i'm not Tradingjunk. And yes i'm in DYSL for even longer than 9months. So for me DYSL is NOT a pump and dump. I'm not pumping, just telling facks or thoughts imo. And yes i'm up nicely as of today but still waiting for that big run. I just bought shares some long time ago, after I did my DD and Peter Sulick became CEO. I had faith in this man and he did not let DYSL down. Now we can start enjoy the profits from our long wait. hope you can make some money on DYSL to.