Those who know do not speak,
those who speak do not know
Wednesday, May 14, 2008
Silicon Valley Bank grants default waiver to solar company (SPIR)
From the San Jose Business Journal:
Spire Corp., which makes equipment for the solar industry, said it recently violated bank loan covenants, but avoided default after receiving a waiver from Silicon Valley Bank.
The Bedford, Mass.-based company (NASDAQ:SPIR) discussed the action in a filing with the Securities and Exchange Commission on Wednesday. The company's borrowings on a line of credit was about $2.6 million....MORE