maybe this explain some of the selling pressure here.
Avici Founder Sells Shares On Demand Call From Lender
N. BILLERICA, Mass.--(BUSINESS WIRE)--April 5, 2001--Avici Systems (Nasdaq:AVCI), today announced that Hank Zannini, one of the founders of Avici, was forced to liquidate 300,000 shares of his holdings in Avici stock on a demand call from his lender, Merrill Lynch Private Finance Inc., pursuant to a demand loan and collateral agreement.
About Avici Systems
Avici Systems Inc., headquartered in North Billerica, Mass., is a developer of next-generation Internet backbone platforms that optimize and drive creation of all-optical "speed-of-light" networks. Designed to bring packet intelligence to the core of optical networks, Avici's technologies offer superior scalability, resiliency and port density enabling just-in-time bandwidth provisioning, high reliability and the quality of service needed for carriers and ISPs to support mission-critical applications of the future. Visit Avici's World Wide Website at avici.com.
CONTACT:
Avici Systems
Inna Vyadro
978-964-2000
ivyadro@avici.com
KEYWORD: MASSACHUSETTS
BW2180 APR 05,2001
6:59 PACIFIC
9:59 EASTERN |
