News re: financing for Brazil plant. Check news on SI below.
FiberCore Completes $30 Million Private Placement
CHARLTON, Mass.--(BUSINESS WIRE)--June 14, 2000--FiberCore, Inc. (OTC-BB: FBCE). FiberCore, a leading manufacturer
of optical fiber and preform for the telecommunication and data communications markets, today announced that it has closed on a private placement with an institutional investor that provides for a $30 million financing commitment. Under the terms of the agreement, FiberCore received proceeds of $9.5 million with the remainder available under certain terms and conditions.
The proceeds will be used to fund the recently announced acquisition of Xtal Fibras Opticas, SA, a Brazilian manufacturer of optical fiber and preform with the largest market share in Brazil, which is scheduled to close by June 30, 2000, and for further capacity expansion and other corporate purposes.
The financing was arranged by Gruntal & Co., New York, FiberCore's investment banker.
For more information about the Company, its products, or shareholder information please visit our Website at:
www.FiberCoreUSA.com or contact us at: Phone - (508) 248-3900 or by FAX - (508) 248-5588 or E-Mail FiberCore@aol.com
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