DigitalBridge Gets $16.5M

DigitalBridge Communications announces completion of $16.5M capital raise

October 27, 2008

1 Min Read

ASHBURN, Va. -- DigitalBridge Communications Corp., the largest private provider of WiMAX broadband services in the United States, today announced it has completed raising a total of $16.5 million of senior and subordinated debt along with additional capital from its existing equity investors. These funds provide the company with significant additional liquidity with which to continue to build the enterprise.

In addition to an investment by the company's existing investor group of Paladin Capital Group, RedShift Ventures, CNF Investments and Novak Biddle Venture Partners, and an increase in the company's senior bank facility with Comerica Bank, the company received an $8.5 million subordinated debt investment from BIA Digital Partners and Spring Capital Partners.

"With its licensed spectrum and network deployments in carefully selected, underserved communities, DigitalBridge offers households and businesses a compelling value proposition -- affordable, robust voice and data services over a high-speed, reliable Internet connection," said Chuck Wiebe, a Partner at BIA Digital Partners. "This company is on the forefront of the 4G revolution that will fully mobilize the Internet and fundamentally change the way people work, communicate and obtain information."

DigitalBridge Communications Corp.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like