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Israel's C3D Hopes To Raise $35M By Early Spring > CDDD
10/06/1999
Dow Jones News Service
(Copyright (c) 1999, Dow Jones & Company, Inc.)
JERUSALEM (Dow Jones)--C3D Inc. ( CDDD ) plans to raise $35 million by early spring in a private placement or public offer on Nasdaq, a spokesman said Wednesday from Tel Aviv.
Monday, C3D's Constellation 3D Holdings unit unveiled a fluorescent multilayer optical data storage technology that it says significantly expands the memory capacity of disks and flash data cards used in computers.
The money the company wants to raise would be used "to bring the prototypes further toward actual industrial production, and of course to continue research and development in this area," spokesman Patrick Maloney said.
Unlike current optical technology, the C3D technology isn't based on reflection, as is the case with current disk and flash cards, Maloney said. Signals are therefore able to penetrate more layers on a disk or card without being degraded, and that boosts memory capacity, he said.
C3D has spoken with Microsoft Corp. (MSFT), Apple Computer Inc. (AAPL), Ricoh Co. (J.RCH), Sony Corp. (SNE) and other industry leaders about a possible joint venture, Maloney said. "We're going down the road with some of those, but no talks have been concluded," he said.
C3D, with a market capitalization of $250 million, became a public company in April, he said. The company has its head office in New York, with offices and laboratories in Silicon Valley, Moscow, Ukraine and Rehovot, Israel.
(END) DOW JONES NEWS 10-06-99
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