Dynasil Sells Navigator Gamma Medical Probe Product Line - Quick Facts

(RTTNews) - Dynasil Corporation of America (DYSL), a developer of sensing, detection and analysis technology for homeland security, medical and industrial applications, announced sale of the assets of its Navigator Gamma Medical Probe product line to Dilon Technologies, Inc. of Newport News, Virginia.

The transaction is a step in the previously announced strategy to restructure the Company to improve liquidity and pay down bank debt. The consummation of this divestiture resulted in a payment to Santander Bank, N.A., the Company's primary lender, of approximately $2.75 million, which reduced the balance of the Company's outstanding indebtedness to Santander to about $2.4 million.

As previously reported, at September 30, 2012, the Company's indebtedness to Santander was about $9.0 million, a reduction of $6.6 million over the past 15 months. The Company also has a subordinated $3 million note to Massachusetts Capital Resource Corporation which is not yet due.