Interesting, that was early spring news, that ENSL would announce at some point in the future a "dividend" opportunity for current holders to purchase up to an equal amount of common shares as shares currently held at around .16.
Other words a 2x diliution but I think it was supposed to be a bargain price to current investors... however it's never really done much better than .16 avg pps since then under new management. Not much of a deal and I don't think anything ever came of it.
from Reuters,
Entech Solar Inc Announces $3 Million Rights Offering
Friday, 13 Mar 2009 12:00pm EDT
Entech Solar Inc announced that it intends to effect a $3 million common stock rights offering to its shareholders in order to raise equity capital for general corporate and working capital purposes. The rights will have an exercise price of $0.1615, which is equal to 85% of the closing price for the common stock on March 12, 2009. Under the terms of the rights offering, the Company will distribute at no charge to the holders of its common stock transferable rights to purchase up to an aggregate of approximately 18,576,000 new shares of common stock. The Company will distribute to each such holder one transferable right for every share of common stock owned on the record date, which will be set forth in a prospectus to be filed with the Securities and Exchange Commission. Each right will entitle the holder to purchase one share of common stock for $0.1615. Stockholders as of the record date will be entitled to subscribe, subject to allotment among all subscribing stockholders, for shares not subscribed for by other shareholders.
