Proxim (NASDAQ:PROX)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Proxim Charts. Click Here for more Proxim Charts.](/p.php?pid=staticchart&s=N%5EPROX&p=8&t=15)
Proxim Corporation Announces Pricing of Offering of $9 Million in
Common Stock and Warrants
SUNNYVALE, Calif., Feb. 7 /PRNewswire-FirstCall/ -- Proxim Corporation
(NASDAQ:PROX), today announced an offering of 5,000,000 shares of Class A
common stock at a price of $1.80 per share. The offering is being made
pursuant to a shelf registration statement that became effective in November
2004. As part of the sale of shares, the Company agreed to issue warrants to
purchase an aggregate of 2,500,000 shares of Class A common stock at an
exercise price of $2.35 per share. The transaction is expected to close on or
about February 7, 2005 and to raise gross proceeds of approximately $9 million.
East Peak Advisors, L.L.C. acted as placement agent in connection with the
offering.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy any of these securities. This offering of common stock and
warrants may be made only by means of a prospectus. Copies of the prospectus
supplement and base prospectus related to the offering may be obtained from
Proxim Corporation at 935 Stewart Drive, Sunnyvale, CA 94086, Attention:
Company Secretary, or by calling 408-542-5200.
Proxim(R) Corporation is a global leader in wireless networking equipment for
Wi-Fi and broadband wireless networks.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws or any such state. This press
release contains forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Proxim assumes no obligation
and does not intend to update these forward- looking statements. Actual future
events and circumstances could differ materially from those set forth in these
statements due to various factors, and we may not complete the proposed
offering. These factors include possible changes in capital market conditions
or in our business or financial condition and other risks and uncertainties
including those detailed in our filings with the Securities and Exchange
Commission.
DATASOURCE: Proxim Corporation
CONTACT: Ben Gibson, Senior Vice President, Marketing, or Michael Angel,
Chief Financial Officer, both of Proxim Corporation, +1-408-542-5200
Web site: http://www.proxim.com/