Brilliant Digital Entertainment Completes New Financing.Business Editors LOS ANGELES--(BUSINESS WIRE)--Sept. 9, 2002 Brilliant Digital Entertainment, Inc. (AMEX AMEX See: American Stock Exchange :BDE See Borland Database Engine. ), a developer and distributor of rich media advertising technologies and, through its Altnet subsidiary, secure peer-to-peer solutions for content distribution, reported today that it has raised $1,070,000 in a private placement of its equity securities. The Company sold 7,123,836 shares of its common stock at a price per share of $0.1502, which represents the volume weighted average price (VWAP VWAP The volume-weighted average price. ) of a share of the Company's common stock on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. over the five consecutive trading days immediately preceding August 26, 2002, the date on which the purchasers committed to purchase the shares. In addition, the purchasers received warrants to purchase an additional 12,664,597 shares of the Company's Common Stock with an exercise price of $0.168975, which represents a 12.5% premium to the price paid for the shares of common stock. The purchasers were Harris Toibb, MarKev Services, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , an entity co-owned by the Company's Chairman and the Company's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President, Ronald Lachman, David Wilson David Wilson may refer to:
About Brilliant Digital Entertainment Brilliant Digital Entertainment, Inc. (AMEX:BDE) is a developer of 3D rich media advertising and content creation technologies for the Internet. It licenses its ad serving technology to the content and advertising communities. The b3d Studio toolset is targeted for use by studios, production houses, web content suppliers and advertising agencies. Brilliant also licenses its Brilliant Banner ad serving technology to the Web-based advertising industry. Find out more at www.brilliantdigital.com. For further information, please contact Robin Gore at 818/615-1500 X528 or rgore@bde3d.com. About Altnet Altnet is the industry's first secure, opt-in, peer-to-peer network created to promote and distribute secure content and cost-effectively perform distributed processing and storage functions for the enterprise and consumer markets. Altnet is a subsidiary of Brilliant Digital Entertainment. Find out more at www.altnet.com. |
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