Advanced Photonix Inc. announces private placement, manufacturing success.CAMARILLO Camarillo (kă'mərē`yō), city (1990 pop. 52,303), Ventura co., S Calif.; inc. 1964. It is the center of a fertile farm area where citrus fruits and flowers are grown. , Calif.--(BUSINESS WIRE)--July 26, 1995--Advanced Photonix Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :API (Application Programming Interface) A language and message format used by an application program to communicate with the operating system or some other control program such as a database management system (DBMS) or communications protocol. ) Wednesday Wednesday: see week. announced that it has completed the first step in implementing its strategic business plan by completing a $3 million private placement, which was oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. , of its Class A common stock. The company's strategic plan is focused on (1) growing its profitable core business, (2) bring the first generation of LAAPD products to market, and (3) developing proof-of-concept LAAPD Arrays. LAAPD's are light-sensitive semiconductor chips which possess the potential for many high-technology and consumer applications. Several well-regarded investment groups and private investors, as well as executive offices of the company participated in the private placement. "It is gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. that this private placement has been successfully concluded with such quality investment partners who recognize the value of our core business and the extraordinary potential of our LAAPD technology," said James W. Ward, chairman of the board of Advanced Photonix. Ward stated that the company will begin shipments of its first generation LAAPD products by the end of the present quarter. "Resuming shipments of our LAAPD products is an important milestone in the company's development. We have successfully established a baseline The horizontal line to which the bottoms of lowercase characters (without descenders) are aligned. See typeface. baseline - released version manufacturing process for these devices which we believe will produce commercially attractive yields at acceptable reliability standards. The development of this process is an important technological advance that will permit the company to fully realize the potential of its LAAPD technology." The company also announced several changes to its board of directors. Bernhardt Denmark resigned from the board effective May 31, 1995. Board vacancies have been filled by Jon Victor and Hayden Leason, both of whom are major stockholders of Advanced Photonix. Victor, president of Security Capital Management Inc., joined the board effective June 15, 1995. Leason, former chairman of the board of Filtertek Inc., joined July 26, 1995. Leason participated in the development of the company's strategic plan and expressed his view that "the company continue its recent focus on achieving operating efficiencies which will produce consistent growth in earnings." Advanced Photonix is a high-technology growth company which designs and manufactures opto-electronic semiconductor-based components and hybrid assemblies, including proprietary solid state silicon Large Area Avalanche Photodiodes Avalanche photodiodes (APDs) are photodetectors that can be regarded as the semiconductor analog to photomultipliers. By applying a high reverse bias voltage (typically 100-200 V in silicon), APDs show an internal current gain effect (around 100) due to impact ionization (avalanche . CONTACT: Advanced Photonix Inc., Camarillo Patrick J. Holmes, 805/987-0146 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion