This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Smart Glass Company Research Frontiers Raises $2.5 Million In New Capital For Expansion

WOODBURY, N.Y., Sept. 17, 2010 (GLOBE NEWSWIRE) -- A group of accredited investors has invested $2.5 million in Research Frontiers Inc. (Nasdaq:REFR), the developer and licensor of patented SPD-Smartâ„¢ light-control film technology. The investors received 641,026 shares of Research Frontiers common stock at a price of $3.90 per share, which was the average market price of Research Frontiers stock on September 15, 2010, the day the transaction was priced. In addition, the investors in this stock offering received 128,205 five-year warrants to purchase Research Frontiers common stock at a price of $6.25 per share. These securities were sold pursuant to Research Frontiers' effective shelf-registration statement filed with the SEC.

Joseph M. Harary, President and CEO of Research Frontiers, noted: "This investment and its timing make perfect sense to those that follow the smart glass industry in general, and Research Frontiers and our leading SPD-Smart light-control technology in particular. With business activity in the SPD industry expanding at Research Frontiers and especially at our larger licensees, more projects being announced or recently completed using our SPD-SmartGlass technology, and some very highly visible products using our technology currently planned to be launched internationally, we are adding resources and people, especially in the sales, marketing, and business development areas. We are moving at light speed."

Mr. Harary continued: "I also thank our shareholders and the investors in this round of financing for their continued support as we grow our business and the SPD-Smart products industry. These investors include people who participated in our prior financing rounds, and internationally-known architects, and owners, operators and developers of some of the world's largest and most prestigious buildings. Their participation is part of a growing awareness of the benefits that SPD-SmartGlass technology brings. Independent data shows that SPD-SmartGlass technology can be used to make the highest-performing and most energy-efficient windows in the world. Architects, engineers, designers and new product developers are also beginning to utilize these and other benefits including energy savings from solar heat gain control and management, reduction of interior lighting costs due to enhanced daylight harvesting, and increased comfort, safety, functionality, protection from harmful UV radiation, and security."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
REFR $6.09 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs