latest news releases from the newsroom
Penwest Pharmaceuticals Co.
Penwest Announces $25.1 Million Private Placement of Common Stock and Warrants
DANBURY, Conn., March 6, 2008 (PRIME NEWSWIRE) -- Penwest Pharmaceuticals Co. (Nasdaq:PPCO) today announced that it has entered into a securities purchase agreement with certain institutional accredited investors with respect to the private placement of 8.14 million units (each unit consisting of one share of common stock of the Company and one warrant to purchase one-half share of common stock) for a purchase price of $3.0825 per unit, or gross proceeds of $25.1 million. An aggregate of 8.14 million shares of common stock and warrants for the purchase of an aggregate of 4.07 million shares of common stock will be issued by the Company upon the closing of the private placement, which is subject to satisfaction of customary closing conditions.
GigaBeam Signs a Distribution Agreement With WAV Distribution for North America
DURHAM, N.C., March 6, 2008 (PRIME NEWSWIRE) -- GigaBeam Corporation (OTCBB:GGBM), announces that it has entered into a distribution agreement with WAV(r), Inc, a value-added-distributor of wireless, security, RFID, VoIP and portable data-collection equipment, to distribute its G1.25 and G100 products. As part of this agreement, an initial stocking order has been executed between the parties. We believe our agreement with WAV will establish a new customer base in the North American market for GigaBeam's carrier class fixed wireless solutions. WAV offers a wide portfolio of product positions and a sales footprint throughout North America and is a single-stop source for wireless products and solutions. WAV's strong presence in the North American market will improve accessibility to GigaBeam's solutions in the U.S. and Canada and GigaBeam's high capacity technology will round out the WAV portfolio.