Subject: General Tech | March 14, 2013 - 01:37 PM | Jeremy Hellstrom
Tagged: ocz, Hercules Technology Growth Capital
OCZ has just received $30 million and a new credit line from Hercules Technology Growth Capital, separating their future from Wells Fargo who have been displaying a distinct lack of faith in OCZ. The April 8th deadline for OCZ to file reports on their last two quarters still stands and Hercules has tied that submission into the loans being offered by requiring up to date SEC filings from OCZ. Hercules has a warrant to purchase 688,073 OCZ shares at $2.18 a piece which is $0.08 more than market worth and demonstrates that Hercules has some faith in OCZ's ability to remain viable. Check out the full terms and conditions at The Register.
"Obtaining this new credit facility is the first step in providing OCZ with a complete capital structure going forward. This capital will be used to strengthen the business, fund future growth, and support emerging enterprise opportunities."
Here is some more Tech News from around the web:
- AMD explains Radeon HD numbering scheme @ The Inquirer
- TSMC to tape out Apple A7 processor in March, say sources @ DigiTimes
- Samsung's Exynos Octa chip has a PowerVR SGX544 GPU @ The Inquirer
- Disk drive kingpin WD whips out wallet for upstart Skyera @ The Register
- The problem with Windows convertible tablets @ The Tech Report
- How to Optimize a MySQL Server @ Hardware Secrets
- Unigine Heaven 4.0 Benchmark Tool Walk Through @ OCC
- Twitter Global Weekly Giveaway - Corsair Hydro Series H90 and H110 CPU Liquid Coolers @ Tweaktown