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Eagle Broadband Secures $4.9 Million In New Financing
League City TX (SPX) Jun 08, 2004 Eagle Broadband, a leading provider of broadband and communications technology and services, announced Monday that the company has received $4.9 million in new financing from an investor group in a private placement financing round. HPC Capital Management, a leading investment banking firm specializing in emerging growth and medium size companies, acted as the investment banker for the transaction. Under the terms of the agreement, the investors are receiving a three-year convertible debenture at an 8% annual interest rate, payable quarterly, in cash or registered stock. The private placement financing provides the investors with warrants to purchase common stock at a fixed conversion rate. The debenture features a conversion feature fixed at the current market price. The new funds are helping Eagle better meet customers' needs to finance purchases of Eagle technology and services. Eagle's financial services capabilities are proving to be a key competitive differentiator and helping the company win new contracts. Customers are benefiting from one-stop shopping for financing, design, integration, operation and support for our full suite of broadband, multimedia and communications technology and services. "Our customers have demonstrated strong interest and demand for Eagle's recently announced financing capabilities. We are using this capital to fund and fulfill new customer orders for equipment and services," said Dave Weisman, Chief Executive Officer, Eagle Broadband. "We are excited to have HPC Capital as a financial partner. With a strong track record of helping growth companies excel, HPC's financial resources and global network can help Eagle further accelerate our revenue growth." Vincent Sbarra, Managing Director of HPC Capital stated, "After carefully evaluating a number of companies in the broadband space, our investors believed that Eagle Broadband is well positioned to capitalize on the rapidly growing broadband and communications markets. Our investors wanted to participate in this financing round because of Eagle's unique combination of exclusive technology, market-leading broadband services and proven management." Community Email This Article Comment On This Article Related Links Eagle Broadband SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express Satellite-based Internet technologies
iPod Dominance A Mirage
Chicago (UPI) Jan 09, 2006Though Apple Computer has reported remarkable success with its iPod - sales rose by 250 percent during the last fiscal year - there is some competition coming this week for the developer of the world's most famous, legitimate music downloading network, experts tell United Press International's Networking. |
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