Amati Communications Announces Investment Agreement With Chatterjee Group, An Affiliate of Soros Fund Management.SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 7, 1996--Amati Communications Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AMTX), a leading developer of advanced transmission equipment utilizing Discrete Multi-Tone technology (DMT See DSL. ) for the Asymmetric Digital Subscriber Line (communications, protocol) Asymmetric Digital Subscriber Line - (ADSL, or Asymmetric Digital Subscriber Loop) A form of Digital Subscriber Line in which the bandwidth available for downstream connection is significantly larger then for upstream. (ADSL See DSL. ADSL - Asymmetric Digital Subscriber Line ), today announced that it has entered into an Investment Agreement with a group of investors led by The Chatterjee Group (an affiliate of Soros Fund Management The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. ). The Investment Agreement provides to Amati up to $15 million in equity financing, subject to satisfaction of certain conditions including the effectiveness of a registration statement covering resales of Common Stock by the investors. The initial funding under the Investment Agreement is expected to be $10 million. Pending completion of the initial equity funding, the investors are providing to Amati $3 million in interim financing. Under the Investment Agreement, the investors have also received five year warrants to purchase shares of Common Stock. Amati is a leading developer of advanced transmission equipment based on DMT technology for the ADSL, Very High-Speed Digital Subscriber Line See DSL. (communications, protocol) Digital Subscriber Line - (DSL, or Digital Subscriber Loop, xDSL - see below) A family of digital telecommunications protocols designed to allow high speed data communication over the existing copper telephone lines between end-users and (VDSL See DSL. VDSL - Very high bit-rate Digital Subscriber Line ) and cable modem markets. Amati is the holder of ADSL/DMT patents and has licensed the technology to companies including Nortel and Motorola. Amati is also a provider of network connectivity systems for the internetworking and OEM marketplaces. The company's connectivity products include local area network gateways, client-based workstation software and network data communications interfaces. -0- Note to Editors: Statements made in this press release which are not historical, including statements regarding product demonstration, product capabilities and markets, are forward looking statements and as such are subject to a number of risks. Please see the company's prospectus/proxy statement dated Oct. 16, 1995 and other reports files pursuant to the Securities Exchange Act of 1934 for additional disclosure regarding such risk factors. CONTACT: Simon/McGarry Public Relations Carol Felton, 408/746-0911 cfelton@shandwick.com or Amati Communications Ron Carlini, 408/879-2000 |
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