By Devika Patel
Knoxville, Tenn., April 24 - Ikanos Communications, Inc. took in $42 million in a private placement of stock on April 21, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 24 million common shares and one series A preferred share to Tallwood Venture Capital and other investors.
The investors also received warrants for 7.8 million shares, which are exercisable at $1.75 for five years.
Fremont, Calif.'s Ikanos develops semiconductors and software products that enable network equipment manufacturers and service providers to deliver broadband to the digital home.
| Issuer: | Ikanos Communications, Inc.
|
| Issue: | Common stock, one series A preferred share
|
| Amount: | $42 million
|
| Shares: | 24 million
|
| Warrants: | For 7.8 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.75
|
| Investor: | Tallwood Venture Capital
|
| Settlement date: | April 21
|
| Stock symbol: | Nasdaq: IKAN
|
| Stock price: | $1.46 at close April 21
|
| Market capitalization: | $39.9 million
|
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