View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
January 6, 1988

PRIVATE FUNDING

By CBR Staff Writer

Automatix Inc, troubled Billerica, Massachusetts robotics manufacturer, has closed an equity financing with a group of investors led by ABS Ventures which provided $4m in new cash in return for 4m units valued at $1 per unit. Each unit consists of one share of unregistered Automatix stock plus a five-year warrant to buy an additional share at $1.25. The company also announced a permanent resolution of the agreement with Morgan Guaranty Trust Co under which Morgan has released its security interest in the company’s inventory, cash and receivables and Automatix is no longer subject to any financial covenants or reporting obligations to Morgan Guaranty. The $150,000 per quarter purchase of bonds by the company has also been eliminated.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU