DESC Gets Fresh Infusion of Cash: Watch for Shorting!!!
Shares of Distributed Energy Systems Corp. (Nasdaq: DESC) were very active today after announcing the closing of a $15 million financing. DESC closed up 13 cents (18 percent) at 87 cents per share on volume of more than 550,000 shares. DESC announced that it has completed a $15 million financing with an investment fund managed by Perseus LLC, a merchant bank and private equity fund management company. The company also named two Perseus representatives to serve as directors in place of two senior company executives. The company received $15 million in cash at closing, and repaid all principal and accrued…