Raptor again increases number of warrants in private placement of notes

By Sheri Kasprzak

New York, Jan. 23 - Raptor Networks Technology, Inc. has once again increased the number of L-1 warrants issued in a July 2006 private placement.

The company will now issue warrants for 22,754,163 shares, bumped up from 20,478,748 shares.

Earlier this week, the company announced the restructuring of its existing $5 million convertible debentures issued in July 2006.

As part of the restructuring, the company increased the number of series L-1 warrants to 20,478,748 from 17,065,623. The strike price of the warrants was also reduced to $0.43948 from $0.5054 and the expiry extended to seven years from five years.

The restructuring was part of a new $1.6 million convertible note offering closed Jan. 19.

Based in Santa Ana, Calif., Raptor develops network-switching architectures used in services such as video, voice over internet protocol, high-speed storage and others.

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