Altair Nanotech (ALTI) Extends End Date in SSA with Canon Investment Holdings
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Altair Nanotechnologies Inc. (Nasdaq: ALTI), has agreed to a fourth amendment to the Share Subscription Agreement initially entered into with Canon Investment Holdings Limited on September 20, 2010 and subsequently amended on February 16, May 17 and June 3, 2011.
This Fourth Amendment to the SSA extends the End Date to, and sets the Closing Date as, July 8, 2011 but keeps in place the ability of Altairnano to pursue other alternatives and to terminate the SSA at any time with no penalty. The SSA calls for Canon to acquire newly issued shares of the Company's common stock valued at $57.6 million resulting in a 51 percent ownership on a fully diluted basis immediately upon closing.
This Fourth Amendment to the SSA extends the End Date to, and sets the Closing Date as, July 8, 2011 but keeps in place the ability of Altairnano to pursue other alternatives and to terminate the SSA at any time with no penalty. The SSA calls for Canon to acquire newly issued shares of the Company's common stock valued at $57.6 million resulting in a 51 percent ownership on a fully diluted basis immediately upon closing.
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