Datametrics Converts Its Debt Into Preferred Stock
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Datametrics, a Chatsworth maker of computer printers for the military, said it converted $2.75 million of debt into 2.2 million shares of convertible preferred stock, completing an infusion of capital originally announced in March.
The stock was acquired by two firms, Boston-based Investments Orange Nassau and New York-based Alan Patricof Associates, that were owed the $2.75 million.
Datametrics said the conversion gave it a positive net worth for the first time in four years. Net worth is calculated as a company’s assets minus its liabilities.
Datametrics was founded in 1962.
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