<A> Clearwater Fund Acquires Substantial Interest in Nexar Technologies
CLEARWATER, Fla.-- Clearwater Fund IV LLC, a private investment company which invests in technology growth companies, announced that it has recently acquired 1,060,736 shares of common stock in Nexar Technologies, Inc. (NASDAQ:NEXR), a manufacturer of customizable and upgradable PCs. Clearwater acquired the shares from Palomar Medical Technologies, Inc., Nexar's majority shareholder.
"Clearwater selects highly innovative companies with significant growth potential for its portfolio and Nexar's differentiated future-ready personal computer design clearly meets our criteria for investment," said Rick Heye, president, Clearwater Fund IV. "We are impressed by the Nexar XPA PC design as a means to extend the PC lifecycle and have confidence in the company's experienced management team, its innovative products and business development strategy."
Nexar Technologies, Inc., headquartered in Westborough, Mass, develops, manufactures and markets high-performance, competitively- priced desktop personal computers (PCs) based on patent-pending technologies. Unlike conventional PCs, Nexar systems permit (i) resellers to offer a custom-configured PC on demand and (ii) end users to easily upgrade or switch important components of the PC to accommodate emerging and future technologies resulting in a significant extension of the computer's useful life.
CONTACT: Clearwater Fund IV LLC Nexar Technologies, Inc.
Gerard P. Melia Craig Conrad
813-442-0825 508-836-8700 ext. 233 |
