Avici Founder Sells Shares On Demand Call From Lender
April 6, 2001
N. BILLERICA, Mass.--(BUSINESS WIRE)--April 5, 2001 via
NewsEdge Corporation -
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. |
