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News and comments on community broadband networks, the communities deploying them and the technologies that support them. Published by Denise Frey and Al Bonnyman.

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Monday, November 03, 2003

 

Powerline broadband: Ambient raises $4.6 million

"Ambient Corporation Raises $4.6 Million; A New Ambient Emerges as Financial Barrier to Commercialization is Removed"

"Ambient Corporation, a leader in Power Line Communications technology, announced that it completed the private placement of $2,300,000 principal amount of its three year 6% Convertible Debentures and signed commitments to place an additional $2,300,000 of the debentures when the Company's registration statement covering the common stock underlying the debentures, filed on October 30, is declared effective by the Securities and Exchange Commission. Additionally, the Company has issued and, when the registration statement is declared effective, will issue warrants to purchase up to 19,395,833 shares of common stock, exercisable at $.25 per share, to the purchasers of the debentures."

"... Ambient Corporation is a development stage company engaged in the design, development and marketing of equipment and technologies that utilize existing electrical power medium voltage and low voltage distribution lines as a medium for the delivery of broadband and other communication services. The use of an electric power distribution system as a high-speed communication medium is commonly referred to as "power line communication" or "broadband over power lines."


Press release

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