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American DG Energy (ADGE) Takes Steps to Strengthen Balance Sheet, Eliminate Portion of Debt

May 4, 2016 11:02 AM EDT

American DG Energy Inc. (NYSE: ADGE) announced the execution of a series of transactions that strengthen the Company's balance sheet through the elimination of a portion of the company's outstanding convertible debt. In addition, these steps remove any potential shareholder dilution that may have resulted from a debt to equity conversion of these securities. In total, the transactions eliminated $9.3 million in convertible debentures ($8.5 million net of prepaid interest) that, if converted, would have caused significant dilution to American DG Energy's existing shareholder base.

Speaking about the transaction,... More