Raptor Networks amends convertibles to allow Oct. 1 payments in stock

By Devika Patel

Knoxville, Tenn., Oct. 3 - Raptor Networks Technology Inc. amended the terms of its senior secured convertible notes, according to an 8-K filed Friday with the Securities and Exchange Commission.

The new agreement permits the company to pay certain payments due on Oct. 1 in shares rather than cash. It also agreed to shorten the period in which it must deliver common shares upon conversion of the notes.

Based in Santa Ana, Calif., Raptor Networks develops network switching architectures.

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