By Sheri Kasprzak
New York, March 20 - Vyyo Inc. said it will pocket $24,997,642 from a private placement of notes and stock with Goldman, Sachs & Co.
Goldman bought a $10 million convertible note, a $7.5 million senior secured note and 1,353,365 shares at $5.54 each.
The investors will also receive warrants for 298,617 shares, exercisable at $0.10 each for five years.
The 10% convertible note matures March 22, 2011 and is convertible into common shares at $10.00 each.
The senior secured note is due March 22, 2011 and bears interest at 9.5% annually. It is callable from March 22, 2007 onwards at a premium.
Katalyst Securities LLC was the placement agent for the offering.
The offering is expected to close on March 22.
Atlanta-based Vyyo develops wireless broadband technologies used by cable television and telecommunications providers.
| Issuer: | Vyyo Inc.
|
| Issue: | Convertible note
|
| Amount: | $10 million
|
| Maturity: | March 22, 2011
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | $10.00
|
| Warrants: | For 298,617 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.10
|
| Placement agent: | Katalyst Securities LLC
|
| Investor: | Goldman, Sachs & Co.
|
| Announcement date: | March 20
|
| Settlement date: | March 22
|
| Stock symbol: | Nasdaq: VYYO
|
| Stock price: | $7.45 at close March 20
|
|
|
| Issuer: | Vyyo Inc.
|
| Issue: | Senior secured note
|
| Amount: | $7.5 million
|
| Maturity: | March 22, 2011
|
| Coupon: | 9.5%
|
| Price: | Par
|
| Yield: | 9.5%
|
| Warrants: | See convertible note
|
| Placement agent: | Katalyst Securities LLC
|
| Investor: | Goldman, Sachs & Co.
|
| Announcement date: | March 20
|
| Settlement date: | March 22
|
| Stock symbol: | Nasdaq: VYYO
|
| Stock price: | $7.45 at close March 20
|
|
|
| Issuer: | Vyyo Inc.
|
| Issue: | Stock
|
| Amount: | $7,497,642
|
| Shares: | 1,353,365
|
| Price: | $5.54
|
| Warrants: | No
|
| Placement agent: | Katalyst Securities LLC
|
| Investor: | Goldman, Sachs & Co.
|
| Announcement date: | March 20
|
| Settlement date: | March 22
|
| Stock symbol: | Nasdaq: VYYO
|
| Stock price: | $7.45 at close March 20
|
|
|
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