Brightstar, provider of value-added distribution services, has completed a $61M private placement

January 16, 2004

1 Min Read

MIAMI -- Brightstar Corporation, the wireless industry's foremost provider of value-added distribution services in the Americas, has raised over $61 million in gross proceeds through a private placement of securities.

The proceeds were raised from accredited and institutional investors, including: Falcon Investment Advisors, Prudential Capital Group, Grandview Capital Management and Ramius Capital Group. Brightstar intends to use the significant majority of funds obtained through this private placement to continue its growth plans and for general corporate purposes. Citigroup Global Markets acted as exclusive placement agent in the transaction.

R. Marcelo Claure, president & CEO of Brightstar Corporation, said, “We are pleased to complete this private placement and add such high quality investors to our team. This is a major milestone for Brightstar and a tribute to our history of strong financial performance.”

Brightstar Corporation is a privately-held company that has achieved extraordinary organic growth; almost doubling its revenues each year since its founding in October 1997—$14 million in 1997, $73 million in 1998, $140 million in 1999, $355 million in 2000, $631 million in 2001 and $849 million in revenues in 2002. The company generated in excess of $1.2 billion in revenue in 2003.

Brightstar Corp.

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