Thursday, Mechanical Technology, Inc. (MKTY) announced an amendment to its registration statement on Form S-1 filed on May 22, 2008 with the U.S. Securities and Exchange Commission, due to current market conditions. The amendment converts the company's proposed public offering to convertible senior notes and warrants to purchase shares of MTI common stock. Mechanical Technology's previous registration statement offered shares of common stock and warrants to purchase shares of common stock.
The company plans to use the net proceeds from the offering for research, design, tooling and capital expenditures to support the commercialization of its Mobion portable power source products and working capital as well as general corporate needs.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.