Business Services Industry
AMEDIA RAISES US$5.25 MLN IN PRIVATE PLACEMENT.
AsiaPulse News, August, 2004
(Full text of statement. Contact details below.)
HOLMDEL, N.J.--(BUSINESS WIRE)--Aug. 9, 2004--Amedia Networks, Inc. (OTC BB:AANI), a pioneer in the design and development of Ethernet broadband solutions for the communications industry, today announced that it has received gross proceeds of $5.25 million through the private placement of its Preferred Stock to institutional and individual investors.
The proceeds will be used to expand the Company's research and development efforts, broaden its sales channels and increase its working capital. Amedia continues to develop its QoStream(TM) Ethernet based product portfolio, which was first unveiled at SUPERCOMM this past June. At the tradeshow, Amedia successfully hosted a live demonstration of its...
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