Lenfest extends $10M debt agreement with ETC

Environmental Tectonics Corp., Southampton, today said that investor H.F. "Gerry" Lenfest has agreed to extend until March 1, 2010, the terms of a $10 million debt agreement.

Under previous terms, the agreement would have matured on Feb. 18, 2009.

Last month, Lenfest, a philanthropist and founder of Suburban Cable offered to buy all of the remaining shares he does not already own in the Bucks County defense contractor.

ETC, among other things, develops aircrew training systems. Clients have included Virgin Galactic Spaceflight, founded by Richard Branson.

Yesterday, shares rose 10 cents to close at $1.80 on the American Stock Exchange.