Smart Glass Company Research Frontiers Raises $825,000 In New Capital In Addition To $2.5 Million In New Capital Raised Earlier This Month For Expansion
WOODBURY, N.Y., Sept. 27, 2010 (GLOBE NEWSWIRE) -- A group of accredited investors has invested $825,000 in new capital in addition to the $2.5 million in expansion capital raised by Research Frontiers Inc. (Nasdaq:REFR) earlier this month. Research Frontiers is the developer and licensor of patented SPD-Smart™ light-control film technology. The investors received 194,118 shares of Research Frontiers common stock at a price of $4.25 per share, which was the average market price of Research Frontiers stock on September 23, 2010, the day the transaction was priced. In addition, the investors in this stock offering received 38,824 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: "Our business has been expanding and we are pleased that our investors have increased their support for our efforts by making this additional investment. It further strengthens our balance sheet, which has remained free of debt since our initial public offering in 1986."
SPD-Smart light-control film technology transforms widely used products – windows, skylights, curtainwalls, partitions, sunroofs and more – into products that allow users to instantly and precisely control the light, glare and heat entering a building or vehicle. SPD-SmartGlass is instantly tunable to an infinite number of light transmission states regardless of window size, and easily adapts to individual preferences using control devices ranging from basic dimmer switches and photosensors to those that are integrated into a building's or vehicle's intelligent control system. These unequalled performance characteristics help optimize energy-savings and human comfort, and they offer many other desired benefits such as increased security, noise reduction, protection from harmful ultraviolet light and the potential for aesthetically distinctive designs. Additional information about SPD technology and SPD-Smart windows and other products can be found at www.SmartGlass.com.About SPD Technology and Research Frontiers Inc. Research Frontiers Inc. (Nasdaq:REFR) develops and licenses suspended particle device (SPD) technology used in VaryFast™ SPD-Smart controllable glass and plastic products. Benefits include dynamic control of light, glare and heat passing through many types of glazings, noise reduction, greater security due to both privacy and structural integrity, and the protection of interiors and occupants from heat and harmful ultraviolet radiation. SPD technology, made possible by a flexible light-control film invented and patented by Research Frontiers, allows the user to instantly, precisely and uniformly control the shading of glass or plastic, either manually or automatically. This patented film can be used to transform into "smart" products a variety of products used every day in homes, buildings, cars, aircraft, boats, trains and motorcoaches.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV