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DynTek Receives $5 Million in Additional Funding From Lloyd I. Miller III.

Publication: PR Newswire
Publication Date: 16-APR-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
IRVINE, Calif., April 16 /PRNewswire-FirstCall/ -- DynTek, Inc. (BULLETIN BOARD: DYNK) , a leading provider of professional technology services, today announced completion of additional financing resulting in aggregate gross proceeds to the Company of approximately $5 million.

Under the financing agreement, the Company issued to Mr. Miller a Junior Secured Convertible Note in the principal amount of $5 million. The interest rate for the Junior Secured Convertible Note is 9% per annum if paid in cash, or 13% per annum if paid in kind, which is at DynTek's election for the first three years. Principal will be payable at the maturity date of April 13, 2012 and interest will be payable...

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