Preferred Holder Buys More Midway Shares

Representatives from Midway Games announced that one of the holders of its series D convertible preferred stock has exercised the right to buy another 179 of those shares for $1.79 million. In a filing with the U.S. Securities and Exchange Commission, Midway said it would use the funds for working capital and general corporate purposes. It did not identify the buyer, who paid $10,000 per share. Source: iWon