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DAILY NEWS AND INFORMATION
FOR THE GLOBAL GRID COMMUNITY /
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Systems/Enterprise:
RAPTOR NETWORKS TECHNOLOGY
ANNOUNCES $5.6 MILLION FINANCING
Raptor Networks Technology Inc, announced the closing of a $5.6 million
equity
financing. This funding was led by Satellite Strategic Finance Associates, LLC
and involved several other institutional investors. The terms of the
transaction include warrants that give the investors the right to purchase
additional common stock which, if exercised, would increase the total value of
the transaction to $26.5 million.
Raptor Networks' chief executive officer, Tom Wittenschlaeger, commented,
"This round of funding will propel Raptor to full commercial launch of its
high performance, gigabit and 10 gigabit Ethernet switch products and allow
the company to take the next step in its evolution into a significant player
and innovator in the broadband networking space."
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