Patient Safety Technologies, Inc. Restructures $2.95 Million of Existing Debt and Accrued Interest

TEMECULA, Calif.--(BUSINESS WIRE)--Patient Safety Technologies, Inc. (OTCBB:PSTX) announced today that on August 10, 2007 it entered into definitive agreements restructuring all of the Company’s debt held by Ault Glazer Capital Partners, LLC (the “Fund”). Prior to the restructuring, the Company owed the Fund approximately $2.95 million in principal and accrued interest, which was advanced under the terms of three separate agreements: (1) a Revolving Credit Facility of $420,000, (2) a Secured Promissory Note of $780,000, and (3) a Secured Promissory Note of $1.75 million.

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