By Sheri Kasprzak
New York, May 5 - Amedia Networks, Inc. concluded a $10 million private placement of 8% senior secured convertible debentures.
The two-year debentures were sold to institutional and private investors.
The conversion price could not be determined Friday.
Proceeds from the deal will be used for the development of the company's products and for the retirement of short-term debt.
Based in Holmdel, N.J., Amedia develops technology-based broadband access products for voice, video and data services.
| Issuer: | Amedia Networks, Inc.
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| Issue: | Senior secured convertible debentures
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| Amount: | $10 million
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| Maturity: | Two years
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| Coupon: | 8%
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| Price: | Par
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| Yield: | 8%
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| Settlement date: | May 5
|
| Stock symbol: | OTCBB: AANI
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| Stock price: | $1.01 at close May 5
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