By Sheri Kasprzak
Atlanta, Jan. 19 - Occam Networks Inc. has closed an additional private placement offering for $357,910.
The company sold 35,791 shares of series A-2 preferred stock at $10 each.
The preferreds are convertible into common shares at $0.11 each.
The offering was a second closing of the deal. On Jan. 7, the company raised $5,275,000. The company plans to sell an additional 292,500 shares of series A-2 preferred stock in subsequent closings.
Based in Santa Barbara, Calif., Occam provides Ethernet and IP-based loop carrier equipment to telecommunications companies.
| Issuer: | Occam Networks Inc.
|
| Issue: | Series A-2 preferred stock
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| Amount: | $357,910
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| Shares: | 35,791
|
| Price: | $10.00
|
| Conversion price: | $0.11
|
| Warrants: | No
|
| Settlement date: | Jan. 14
|
| Stock price: | $0.10 at close Jan. 14
|
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