Testimonials
Home  Brightec  SEC Filings  Archives  2007

SEC

 

Filings

Brightec, Inc., signs $10 million Standby Equity Distribution Agreement
South Natick, Mass. — April 3, 2007 - Brightec, Inc., (OTCBB: BRTE.OB) creator of the world’s first photographic quality glow-in-the-dark paper, today announced it has executed a standby equity distribution agreement (SEDA) with Cornell Capital Partners, LP (“Cornell”) of Jersey City, NJ. Under the terms and conditions of this agreement, over a 24-month period beginning on the effective date of the registration statement of the company’s shares, Cornell has committed to provide up to $10 million in equity financing to Brightec. Whereby Brightec may, at its discretion, periodically sell the registered shares of its common stock to Cornell at a 4% discount from the market price. Specific details of the terms and conditions of the SEDA can be found in a Current Report on Form 8K filed with the Securities and Exchange Commission. “The structure of this agreement gives us the flexibility of drawing funds, at the company’s option, for working capital.” said Patrick Planche, President and CEO of Brightec. “We worked long and hard to negotiate terms that worked for both Brightec and Cornell. This agreement is a significant step for us and will provide us with the resources we need to position Brightec as the media of choice for printable glow-in-the-dark for the commercial and digital printing industry”, added Mr. Planche.

About Brightec
Brightec, Inc. (OTCBB: BRTE.OB) is the creator of the world’s first patented photographic quality glow-in-the-dark paper. Brightec’s paper charges automatically with just a few minutes of exposure to light and will glow for hours -- dramatically outshining conventional glow-in-the-dark products. With Brightec® inkjet or offset paper, users can print razor sharp color pictures that look remarkable by day and glow in the dark in amazing photographic detail at night. Innovative and versatile, Brightec paper is ideal for applications in numerous commercial markets including advertising, promotions, premiums and consumer or industrial products. Brightec brand glow-in-the-dark inkjet paper in 4”x6”, 8.5”x11” and 13’ x 19” formats are available from the Company’s website. For more information on Brightec and its products, please visit www.brightec.com.

About Cornell Capital Partners, LP
Cornell Capital Partners, L.P., is a private investment firm with over $700 million in Assets Under Management that specializes in structured finance. According to Knobias Pipe Trac, Cornell was one of the most active investors in the U.S. in terms of number the number of structured equity financings in 2006. Cornell structured over $800 million in committed equity capital in over 100 transactions in the U.S. and around the globe within the last 12 months. Cornell Capital Partners is headquartered in Jersey City, NJ and has offices in London, UK, San Diego, CA and Jupiter FL. www.cornellcapital.com.

Privacy Policy        Copyright 2007        Contact Us