By Sheri Kasprzak
New York, July 24 - Terabeam, Inc. sealed a $7.525 million private placement of stock.
The company issued 4.3 million shares at $1.75 each.
The investors also received warrants for 2.15 million shares, exercisable at $2.45 each.
Proceeds will be used for working capital and general corporate purposes.
Terabeam, based in San Jose, Calif., provides core-to-client broadband municipal wireless networks.
| Issuer: | Terabeam, Inc.
|
| Issue: | Stock
|
| Amount: | $7.525 million
|
| Shares: | 4.3 million
|
| Price: | $1.75
|
| Warrants: | For 2.15 million shares
|
| Warrant strike price: | $2.45
|
| Settlement date: | July 24
|
| Stock symbol: | Nasdaq: TRBM
|
| Stock price: | $2.11 at close July 23
|
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