sequel Power, a newly-formed Delaware limited liability company, will take over the existing projects, along with the technology, know-how and related infrastructure of se2quel Partners. Tegal has contributed $2 million in cash for a majority voting interest and an approximate 25% economic stake in the replica Rolex Datejust Turn-O-Graph 'Thunderbird' watc company. As additional consideration, Tegal has granted warrants to purchase a total of 928,884 shares of Tegal common stock at an exercise price of $0.63 per share to se2quel Partners and se2quel Management GmbH, which represents approximately 11% of Tegal's total shares outstanding. Ferdinand Seemann will serve as the new replica Rolex Datejust Turn-O-Graph 'Thunderbird' watc full-time President & CEO, while Thomas Mika, President & CEO of Tegal, will serve as its Executive Chairman.
Prior to founding se2quel Partners in 2003, Ferdinand Seemann replica Rolex Datejust Turn-O-Graph 'Thunderbird' watc senior positions in several leading technology companies, including Vice President of Lam Research Corporation, Executive Vice President of Mattson Technology, President & CEO of Steag Microtech and President and Owner of Seemann Engineering. Mr. Seemann holds a MSEE from the University of Regensburg in 1985, where he authored a Master's thesis entitled "Novel, Cost Efficient Photovoltaic Systems".
Dr. Stephan Mohren, founder of se2quel Management GmbH, will manage sequel Power's European operations under a management services contract with sequel Power. Dr. Mohren, a senior technology and finance executive, is the former President & CEO of Steag HamaTech AG, and replica Rolex Datejust Turn-O-Graph 'Thunderbird' watc on the Boards of Directors of Steag Industrie AG and Nawotech GmbH. In addition, Dr. Mohren was a Venture Partner at Wellington Partners GmbH and an investment advisor to WestSteag Partners GmbH and Equita GmbH. He holds an MBA from the University of Sankt Gallen, Switzerland, and a PhD in Business Administration from University Saarbrucken.
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