First Avenue Networks Announces Effectiveness of Registration Statement for Resale of Common Stock
13 Maio 2005 - 1:52PM
PR Newswire (US)
First Avenue Networks Announces Effectiveness of Registration
Statement for Resale of Common Stock MCLEAN, Va., May 13
/PRNewswire-FirstCall/ -- First Avenue Networks (OTC:FRNS)
(BULLETIN BOARD: FRNS) , a wireless carrier's carrier offering
solutions for wireless backhaul, fiber network extensions, and
broadband connectivity, today announced that the Securities and
Exchange Commission declared effective its registration statement
on Form S-3 pursuant to shares of common stock sold to
institutional investors in December 2004. The registration allows
holders of the shares to resell the securities covered by the
registration statement. As announced on December 14, 2004, First
Avenue Networks raised $93.3 million in equity securities. As part
of the capital raising process, the company committed to register
securities for resale. Today's announcement fulfills this
commitment. This press release does not constitute an offer to sell
or the solicitation of an offer to buy the securities, nor shall
there be any sale of the securities in any state in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification of the securities under the securities laws of any
such state. About First Avenue Networks First Avenue Networks
(OTC:FRNS) (BULLETIN BOARD: FRNS) is a wireless carrier's carrier.
The company is leading the fixed wireless backhaul and access
evolution by building fixed wireless solutions for mobile backhaul,
bypass and fiber extensions that are cost-effective, reliable and
rapidly deployed. Since acquiring the 39 GHz licensed spectrum
assets of Advanced Radio Telecom in 2001 and the 24 GHz assets and
operations of Teligent in 2005, First Avenue has amassed the
premier collection of millimeter wave spectrum assets in the United
States. It has approximately 1.5 billion channel pops between its
24 GHz and 39 GHz spectrum licenses. First Avenue offers nationwide
coverage and added depth in major U.S. metropolitan areas, holding
nearly 600 MHz of spectrum in the top 75 U.S. markets. For more
information, please visit the company's web site at
http://www.firstavenet.com/ or call (703) 873-4150. The above
information includes forward-looking statements regarding the
securities trading and the provision of services by the Company and
other opportunities in the Company's marketplace. These statements
are not guarantees of future performance. Known and unknown risks,
uncertainties, and other factors, including without limitation,
risk that the Company will be adversely affected by capital
constraints, changes to or failure to execute the Company's
strategy and business plan, non-renewal or revocation of FCC
licenses, variable customer demand, technological risks, ability to
manage growth, competition and government regulation and other
risks may cause actual results to differ materially from the future
results implied or expressed in the forward-looking statements.
Many of these risks and uncertainties are further discussed in our
most recent filings with the Securities and Exchange Commission,
including our annual report on Form 10-K for the fiscal year ended
December 31, 2004. The Company does not undertake to and expressly
disclaims any obligation to update or revise its forward-looking
statement publicly to reflect any change in these forward-looking
statements, or in events, conditions or circumstances on which any
such statements may be based, or that may affect the likelihood
that actual results will differ from those set forth in the
forward-looking statements. DATASOURCE: First Avenue Networks
CONTACT: Linda Pitt of GAJ Services Inc., +1-859-291-1005, , for
First Avenue Networks Web site: http://www.firstavenet.com/
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