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Technology Stocks : Brillian Corporation

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To: mlkr who wrote (250)	10/30/2007 9:49:11 PM
From: Starlight	Read Replies (1) of 361

Syntax-Brillian Gets $250M Financing Tuesday October 30, 7:38 am ET Syntax-Brillian Receives $250 Million Senior Secured Credit Facility, Will Repay Debt TEMPE, Ariz. (AP) -- Digital camera and LCD high-def television maker Syntax-Brillian Corp. said Tuesday it secured a five-year, $250 million senior secured credit facility with Silver Point Finance, with additional lending commitments from Citi, CIT, Wells Fargo Foothill and Wachovia. Durham Capital LLC acted as Syntax-Brillian's placement agent in the transaction. The facility will be used to repay about $80 million drawn against existing credit facilities with Preferred Bank and CIT, to purchase LCD panels used in the production of Olevia-brand LCD TVs, and for general corporate and working capital purposes. The company said it expects the new funds will help it meet national big-box retailers' expected demand for product through the end of fiscal 2008. Silver Point Finance will receive 10-year warrants exercisable into about 5.28 million shares of common stock at an exercise price of a penny per share.

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