View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
June 30, 1997updated 05 Sep 2016 12:55pm


By CBR Staff Writer

Tera Computer Co, the ever developing Seattle-based supercomputer firm that raised $4.1m in a private placement in April (CI No 3,131) says that its highly successful warrant redemption and exercise offer completed last week raised approximately $10.4 million from the exercise of some 2.1 million warrants, or 95% of those outstanding. With these exercises, the company is issuing approximately 2.6 million additional shares of common stock, increasing the number of shares outstanding to about 9.6 million. The company has redeemed all of the unexercised redeemable warrants. The proceeds generated are to provide Tera with working capital to complete testing of its initial MTA system prototypes, and to fund manufacturing start- up costs and inventory acquisitions associated with the production and delivery of its first commercial MTA systems.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

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.