Unwired Australia to receive A$37 million from convertible note offering

By Sheri Kasprzak

New York, Aug. 25 - Unwired Australia said it has received an agreement for A$37 million in secured convertible notes.

The company will issue the notes to Intel Capital once it receives approval from its shareholders in October.

The notes mature in August 2009. The coupon and the conversion price of the notes could not be determined Thursday.

The proceeds will be used to advance the company's WiMAX networks.

Based in Sydney, Australia, Unwired is a wireless broadband carrier. On Thursday, the company's stock closed up A$0.07 at A$0.61.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.