3Dlabs Receives $10 Million in New Financing; Another Capital Infusion Strengthens Liquidity for New Product Launches in 2002.Business Editors/High-Tech Writers HAMILTON, Bermuda--(BUSINESS WIRE)--Jan. 28, 2002 3Dlabs(R), Inc. Ltd. (Nasdaq:TDDD TDDD Test-Driven Database Design (software development) ) announced today that it has closed an additional convertible subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". financing in the amount of $10 million from a strategic investor. This announcement shortly follows a similar announcement for $4 million in new financing last December. The note bears interest at a rate of 4.5 percent per annum Per annum Yearly. payable at maturity or conversion in cash or stock at the option of the company, and matures in January 2004. In the event that the note is converted, 3Dlabs would issue up to an approximately 4.5 million shares of common stock to the holder. The company intends to use the proceeds of the note for its working capital needs. About 3Dlabs 3Dlabs is the workstation graphics authority, supplying graphics accelerator A display adapter that performs a specialized set of graphics functions to render an image on screen. Today, all display adapters provide basic rendering functions in hardware, but many have graphics processing units (GPUs) that are sophisticated computers. solutions for professionals in Computer Aided Design (application) Computer Aided Design - (CAD) The part of CAE concerning the drawing or physical layout steps of engineering design. Often found in the phrase "CAD/CAM" for ".. manufacturing". (CAD), Digital Content Creation The development of newsworthy, educational and entertainment material for distribution over the Internet or other electronic media. See DAMS. (DCC (1) (Direct Cable Connection) A Windows 95/98 feature that allows PCs to be cabled together for data transfer. DCC actually sets up a network connection between the two machines. ), and visual simulation markets. 3Dlabs shipped more 3D workstation-class graphics controllers in 2000 than any other company. Its award-winning Oxygen and Wildcat graphics are available in the industry's top OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and workstations, to the channel through an international distributor/reseller network, and directly to end-users at 3Dlabs' online store. For more information on 3Dlabs, visit www.3dlabs.com. Forward Looking Statements Various matters set forth in this press release, such as statements relating to 3Dlabs bringing new products and technologies to market in 2002 are forward looking statements. These statements are subject to risks and uncertainties that may cause actual results and events to differ materially. These risks and uncertainties include the ability of the Company to maintain operating profitability to increase its market penetration, to complete and successfully introduce new products and technologies in coming quarters, to secure an adequate supply of chips and other components from its vendors, the ability of the Company's contract manufactures to produce an adequate supply of quality products in a timely manner, the ability of the Company to expand its credit facilities to help finance its operations, the Company's ability to obtain sufficient working capital, the ability of the Company to obtain and keep design wins for its next-generation Wildcat and Oxygen products, and the ability of the Company to increase revenues quarter over quarter. Note to Editors: 3Dlabs, Oxygen, Insense3D, Wildcat ,GLINT and Permedia are trademarks or registered trademarks of 3Dlabs Ltd., 3Dlabs Inc. Ltd., or 3Dlabs Inc. in the United States and/or other countries. |
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