[DMIC sells 1.3M shares in a block trade and nets $44.8M]
Friday March 10, 1:34 pm Eastern Time
Company Press Release
SOURCE: Digital Microwave Corporation
Digital Microwave Corporation Announces Sale of Stock
SAN JOSE, Calif., March 10 /PRNewswire/ -- Digital Microwave
Corporation (Nasdaq: DMIC - news) today announced that it has
sold 1,347,368 shares of its common stock from its shelf
registration statement. The shares of its common stock were
sold in a block trade through Dain Rauscher Wessels, a
division of Dain Rauscher Incorporated. Digital Microwave
Corporation received net proceeds of approximately $44.8
million from the sale before expenses, which the Company will
use for general corporate purposes, including working
capital, and may use a portion of such net proceeds to fund
potential strategic investments and acquisitions.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any
sales of these securities in any jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of
any such jurisdiction.
This offering was made by means of a prospectus supplement to
a prospectus that is part of the Company's shelf registration
previously filed with the Securities and Exchange Commission.
Copies of the prospectus and the prospectus supplement can be
obtained from Dain Rauscher Wessels, a division of Dain
Rauscher Incorporated at Dain Rauscher Plaza, 60 South
Street, Minneapolis, MN 55402-4422 or by calling the Company.
Headquartered in San Jose, California, Digital Microwave
Corporation provides microwave radio solutions to connect,
enable and grow communications networks worldwide. The
Company's industry-leading broadband, medium-capacity and
low-capacity radios transport data, voice, and video for
public and private networks in a wide range of global
environments. Digital Microwave Corporation brings value to a
diverse range of customers through its vast array of quality
systems, services and support.
For more information visit the Company's web site at
dmcwave.com.
SOURCE: Digital Microwave Corporation |
