News

DayStar Announces Proposed Public Offering of Common Stock

Halfmoon, NY – (PR Newswire) – October 2, 2007 – DayStar Technologies, Inc. (Nasdaq: DSTI), announced today the filing with the Securities and Exchange Commission of an amended registration statement on Form SB-2 pursuant to which the company intends to offer 15,000,000 shares of common stock. In connection with the offering, DayStar will grant the underwriters an option to purchase up to an additional 2,250,000 shares of common stock to cover any over-allotments.

DayStar plans to use the net proceeds from the offering for the repayment in full of $9.2 million of existing indebtedness for borrowed funds and to engineer to-scale and manufacture the company's proprietary deposition tool. The company intends to use the remaining net proceeds from the offering for the construction of a 25MW manufacturing line, working capital and other general corporate purposes.

ThinkEquity Partners LLC will serve as the sole bookrunning lead manager for the proposed offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. The registration statement on Form SB-2 is available on the Securities and Exchange Commission's website at http://www.sec.gov. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

When they become available, copies of the prospectus for the offering may be obtained from ThinkEquity Partners LLC, 600 Montgomery Street, 8th Floor, San Francisco, CA 94111 or prospectus@thinkequity.com.

About DayStar Technologies, Inc.

DayStar Technologies, Inc. is engaged in the development, manufacturing, and marketing of photovoltaic products based upon CIGS thin film semiconductor technology.

 

Safe Harbor Statement

This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future, " "plan" or "planned, " "will" or "should," "expected," "intended," "anticipates," or "projected." You are cautioned that such statements, including statements relating to the Company's ability to actually negotiate acceptable definitive agreements and to close the bridge financing and receive funds there under are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including risks that our products may not achieve customer acceptance or that they will not perform as expected, and other risks identified in our annual report on Form 10-KSB and other filings with the SEC. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof and DayStar Technologies, Inc. undertakes no obligation to update such statements.