Eagle Broadband Secures $4.9 Million In New Financing

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pwoweiIncremental growth is so much more fun - you get to keep the money

League City TX (SPX) Jun 08, 2004
Eagle Broadband, a leading provider of broadband and communications technology and services, announced Monday that the company has received $4.9 million in new financing from an investor group in a private placement financing round.

HPC Capital Management, a leading investment banking firm specializing in emerging growth and medium size companies, acted as the investment banker for the transaction. Under the terms of the agreement, the investors are receiving a three-year convertible debenture at an 8% annual interest rate, payable quarterly, in cash or registered stock.

The private placement financing provides the investors with warrants to purchase common stock at a fixed conversion rate. The debenture features a conversion feature fixed at the current market price.

The new funds are helping Eagle better meet customers' needs to finance purchases of Eagle technology and services. Eagle's financial services capabilities are proving to be a key competitive differentiator and helping the company win new contracts.

Customers are benefiting from one-stop shopping for financing, design, integration, operation and support for our full suite of broadband, multimedia and communications technology and services.

"Our customers have demonstrated strong interest and demand for Eagle's recently announced financing capabilities. We are using this capital to fund and fulfill new customer orders for equipment and services," said Dave Weisman, Chief Executive Officer, Eagle Broadband.

"We are excited to have HPC Capital as a financial partner. With a strong track record of helping growth companies excel, HPC's financial resources and global network can help Eagle further accelerate our revenue growth."

Vincent Sbarra, Managing Director of HPC Capital stated, "After carefully evaluating a number of companies in the broadband space, our investors believed that Eagle Broadband is well positioned to capitalize on the rapidly growing broadband and communications markets. Our investors wanted to participate in this financing round because of Eagle's unique combination of exclusive technology, market-leading broadband services and proven management."

INTERNET SPACE

Cornell Joins National High-Speed Scientific Computer Network

Ithaca NY (SPX) Jun 04, 2004
Cornell University has joined a nationwide consortium that owns and operates a fiber-optic networking infrastructure for scientific computer communication. The action, announced Wednesday (June 2), will provide the university's researchers with unprecedented high-speed connections and will allow other upstate New York institutions to invest in and join the system.

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