Micro Component restructures $9.25 million in debt

By Sheri Kasprzak

New York, Feb. 24 - Micro Component Technology, Inc. said it has restructured $9.25 million in secured debt with Laurus Master Fund, Ltd.

The company increased the maximum debt with Laurus to $9.25 million from $5 million.

Laurus originally held $3 million in a working capital line of credit and a $2 million convertible note. The note had been convertible at $0.67 each. The note and line of credit were issued on March 9, 2004.

After the restructuring, Laurus holds a $5.25 million non-convertible term note and $4 million in a working capital line of credit.

The debt is due April 30, 2007.

Laurus received options for 2.5 million shares, exercisable at $0.01 each.

Micro Component, based in St. Paul, Minn., manufactures test-handling products for the semiconductor industry.

On Friday, the company's stock lost 1 cent to end at $0.40 (OTCBB: MCTI).

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