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