Terabeam Completes $7.5 Million Private Placement
July 24 2007 - 7:30AM
Business Wire
Terabeam, Inc. (NASDAQ:TRBM), a leader in core-to-client solutions
for broadband municipal wireless networks, today announced that it
has completed a private placement of its common stock raising
proceeds of approximately $7,500,000. Terabeam issued 4,300,000
shares of its common stock at $1.75 per share and warrants to
purchase an aggregate of 2,150,000 shares of its common stock at an
exercise price of $2.45 per share. The net proceeds of the sale of
the common stock and the warrants are to be used for working
capital and general corporate purposes. The securities issued in
this private placement have not been registered under the
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent registration under the Securities Act
and applicable state securities laws or an applicable exemption
from those registration requirements. Terabeam has agreed to file a
registration statement with the Securities and Exchange Commission
to register the resale of the shares of common stock issued and the
shares of common stock issuable upon the exercise of the warrants
sold in this private placement. Terabeam will file a Form 8-K with
the Securities and Exchange Commission shortly that will contain
additional information about this transaction. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in
any state in which such offer, solicitation or sale, would be
unlawful prior to the registration or qualification under the
securities laws of any such state. About Terabeam Terabeam, Inc.
has two primary subsidiaries Proxim Wireless Corporation and
Ricochet Networks, Inc. Proxim Wireless Corporation is a leader in
core-to-client solutions for broadband municipal wireless networks.
Ricochet Networks, Inc. is a leading portable Wireless Internet
Service Provider (WISP) with its primary operational market in
Denver, Colorado. Additional information about the company can be
found at the company�s website located at www.terabeam.com or by
contacting the company by telephone at 408-731-2610 or by email at
IR@terabeam.com. Safe Harbor Statement Statements in this press
release that are not statements of historical facts are
forward-looking statements that involve risks, uncertainties, and
assumptions. Terabeam�s actual results may differ materially from
the results anticipated in these forward-looking statements. The
forward-looking statements involve risks and uncertainties that
could contribute to such differences including those relating to
and arising from dilution resulting from the stock sale and warrant
issuance described in this press release; possible stagnation and
decline in the price of Terabeam�s common stock as a result of
these transactions; and the reactions, positive or negative, of
customers, investors, employees, competitors, and others to the
stock sale and warrant issuance described in this press release and
their ramifications. Further information on these and other factors
that could affect Terabeam�s actual results is and will be included
in filings made by Terabeam from time to time with the Securities
and Exchange Commission and in its other public statements.
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