Avici Founder Sells Shares On Demand Call From Lender.Business/Technology Editors N. BILLERICA, Mass.--(BUSINESS WIRE)--April 5, 2001 Avici Systems (Nasdaq:AVCI), today announced that Hank hank n. 1. A coil or loop. 2. Nautical A ring on a stay attached to the head of a jib or staysail. 3. A looped bundle, as of yarn. Zannini, one of the founders of Avici, was forced to liquidate To pay and settle the amount of a debt; to convert assets to cash; to aggregate the assets of an insolvent enterprise and calculate its liabilities in order to settle with the debtors and the creditors and apportion the remaining assets, if any, among the stockholders or owners of the 300,000 shares of his holdings in Avici stock on a demand call from his lender, Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. Private Finance Inc., pursuant to a demand loan and collateral agreement. About Avici Systems Avici Systems Inc., headquartered in North Billerica, Mass., is a developer of next-generation Internet backbone (communications, networking) Internet backbone - High-speed networks that carry Internet traffic. These communications networks are provided by companies such as AT&T, GTE, IBM, MCI, Netcom, Sprint, UUNET and consist of high-speed links in the T1, T3, OC1 and OC3 ranges. platforms that optimize and drive creation of all-optical "speed-of-light" networks. Designed to bring packet intelligence to the core of optical networks, Avici's technologies offer superior scalability, resiliency The ability to recover from a failure. The term may be applied to hardware, software or data. and port density enabling just-in-time bandwidth provisioning, high reliability and the quality of service needed for carriers and ISPs to support mission-critical applications of the future. Visit Avici's World Wide Website at http://www.avici.com. |
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