SLI Restructures Equipment Lease Financing
BINGHAMTON, N.Y., March 2 -- Semiconductor Laser International has entered into an agreement with Finova Capital Corp. to restructure its current equipment leasing obligations of about $1.2 million. This agreement, which calls for a three-year payout, will enable SLI to reduce its monthly financial obligations by about $50,000. The agreement is conditioned upon the receipt by SLI of a $2 million equity infusion, or loan from a third party, on or before April 28, 2001. SLI manufactures high-power semiconductor diode lasers with applications in telecommunications, medical, dental, laser marking, precision machining, printing and the military.
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