GigaBeam Raises $10M 631080GigaBeam Raises $10M 631080

Wireless fiber provider GigaBeam announces $10 million private placement

August 22, 2006

1 Min Read

HERNDON, Va. -- GigaBeam Corporation (OTCBB-GGBM) announced today theprivate placement of $10 million stated value of the Company’s Series C convertible preferred stockand common stock purchase warrants to purchase approximately 860,653 shares of common stockfor an aggregate purchase price of $10 million to a limited number of institutional investors. Theconversion price of the preferred stock and the exercise price of the warrants are approximately $6.10and $6.39 respectively.

GigaBeam WiFiber products operate in the 71-76 GHz and 81-86 GHz radio spectrum bands. Thisportion of the radio frequency spectrum has been authorized by the Federal CommunicationsCommission for wireless point-to-point commercial use. Use of these frequency bands for commercialuse was pioneered by GigaBeam’s founders.

GigaBeam’s technology, utilizing these large blocks of authorized contiguous spectrum, enables multi-Gigabit-per-second communications through use of Gigabit Ethernet and other standard protocols.The current speed achieved by GigaBeam’s WiFiber G-1.25 product series is full duplex at oneGigabit-per-second (equivalent to 647 T1 lines or 1,000 DSL connections) which supports GigEprotocol. GigaBeam recently announced its WiFiber G-2.7 series which will operate at 2.7 Gbps. Theprotocols to be supported by the G-2.7 product series include 2 x GigE (2 x 1 Gbps); OC-48 / STM-16(2.488 Gbps); SMPTE 292M (1.485 Gbps) and both 1 and 2 Gbps fiber channel. GigaBeam alsoplans deployment of future products capable of 10 Gigabits-per-second utilizing either the 10 GigabitEthernet or OC-192 protocol standards.

GigaBeam Corp. (OTC: GGBM)

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

You May Also Like