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Ticker:OVEN
Company Name: TurboChef Technologies, Inc.

Business Overview from 10-K filing for TurboChef Technologies, Inc.:

On February 8, 2005, we closed a public offering of 5,000,000 shares of our common stock at $20.50 before discounts and commissions to underwriters and other offering expenses. Of the shares sold, 2,925,000 were sold by TurboChef and 2,075,000 were sold by certain selling stockholders. We plan to use the net proceeds to finance the development and introduction of residential ovens, to pursue possible acquisitions or strategic investments and for working capital and other general corporate purposes. On February 28, 2005, we entered into a Credit Agreement with Bank of America, N.A. (the Credit Agreement). The Credit Agreement allows TurboChef to borrow up to $10 million at any time under the revolving credit facility, based upon a portion of TurboChefs eligible accounts receivable. The Credit Agreement also provides for a letter of credit facility within the credit limit.     

View the full OVEN chart at Wikinvest

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