Proxim Corporation Announces Pricing of Offering of $9 Million in Common Stock and Warrants
07 Fevereiro 2005 - 12:50PM
PR Newswire (US)
Proxim Corporation Announces Pricing of Offering of $9 Million in
Common Stock and Warrants SUNNYVALE, Calif., Feb. 7
/PRNewswire-FirstCall/ -- Proxim Corporation (NASDAQ:PROX), today
announced an offering of 5,000,000 shares of Class A common stock
at a price of $1.80 per share. The offering is being made pursuant
to a shelf registration statement that became effective in November
2004. As part of the sale of shares, the Company agreed to issue
warrants to purchase an aggregate of 2,500,000 shares of Class A
common stock at an exercise price of $2.35 per share. The
transaction is expected to close on or about February 7, 2005 and
to raise gross proceeds of approximately $9 million. East Peak
Advisors, L.L.C. acted as placement agent in connection with the
offering. This press release does not constitute an offer to sell
or the solicitation of an offer to buy any of these securities.
This offering of common stock and warrants may be made only by
means of a prospectus. Copies of the prospectus supplement and base
prospectus related to the offering may be obtained from Proxim
Corporation at 935 Stewart Drive, Sunnyvale, CA 94086, Attention:
Company Secretary, or by calling 408-542-5200. Proxim(R)
Corporation is a global leader in wireless networking equipment for
Wi-Fi and broadband wireless networks. 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
registration or qualification under the securities laws or any such
state. This press release contains forward-looking statements as
that term is defined in the Private Securities Litigation Reform
Act of 1995. Proxim assumes no obligation and does not intend to
update these forward- looking statements. Actual future events and
circumstances could differ materially from those set forth in these
statements due to various factors, and we may not complete the
proposed offering. These factors include possible changes in
capital market conditions or in our business or financial condition
and other risks and uncertainties including those detailed in our
filings with the Securities and Exchange Commission. DATASOURCE:
Proxim Corporation CONTACT: Ben Gibson, Senior Vice President,
Marketing, or Michael Angel, Chief Financial Officer, both of
Proxim Corporation, +1-408-542-5200 Web site:
http://www.proxim.com/
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