DynTek amends convertibles with Laurus in exchange for more capital, delayed payments

By Ted A. Knutson

Washington, Nov. 19 - DynTek, Inc. said Friday that it agreed to raise the principal of a convertible note held by Laurus Master Fund to $6.65 million from $6 million in exchange for a Laurus promise to provide more capital to the company and to accept a delay in payments on the note.

The modified agreement, effective Nov. 15, also lowers the conversion price to $0.65 per share from $1.15 per share for the original $3.5 million in principal and $0.90 per share for an additional $2.5 million in principal that was provided May 3, according to an 8-K filing with the Securities and Exchange Commission.

DynTek, based in Irvine, Calif., is a cyber security vendor

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