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Bourque, Ironridge announce stock deal
TUCSON, June 10 () -- Bourque Industries Inc., a U.S. firm developing carbon metal alloys from its patented process, has struck a stock purchase agreement to fund further growth. Under the $7.5 million agreement with Ironridge Technology Co., Ironridge will receive restricted convertible preferred stock as funds are drawn down each month. The stock has a fixed price of $0.04 per share. Ironridge will be unable to convert the preferred shares into common stock for at least six months after each issuance and, subject to adjustment,[url=http://www.parajumpersjackenoutlet.de/]parajumpers damen[/url], the preferred shares will earn dividends of 8 percent per year for 18 years.Bourque said the first closing occurred June 5,[url=http://www.christianlouboutinonlineshop.de/]christian louboutin outlet[/url], with the company receiving $55,000 from Ironridge. "We are extremely impressed with the disruptive potential of the Kryon technology, and are grateful for the opportunity to help facilitate the company's vision to better protect American military,[url=http://www.parajumpersjackenoutlet.de/]long bear parajumpers[/url], security and law enforcement personnel," said John C. Kirkland, managing director of Ironridge Global Partners.Ironridge Global Partners is the parent company of Ironridge Technology, which specializes in direct equity investments in technology companies. Bourque's premier product is light-weight ballistic armor.