Copper Mountain Networks Closes $11.25 Million Private Placement of Common Stock.Business Editors/High-Tech Writers PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--May 7, 2004 Copper Mountain Networks, Inc. (Nasdaq:CMTN), a leading provider of intelligent broadband access See broadband and wireless broadband. solutions, today announced that it has completed the previously-announced sale of 1,250,000 shares of common stock to new and current shareholders at $9.00 per share. This private placement was announced on May 4, 2004 and closed on May 6. The private placement raised gross proceeds to the company of approximately $11,250,000 before fees and expenses. In connection with this transaction the company has issued warrants to purchase 312,500 shares of common stock at an exercise price of $10.00 per share. The five year warrants may not be exercised for six months from the date they were issued. WR Hambrecht + Co WR Hambrecht + Co. is a full service investment bank with headquarters in New York and San Francisco. It specializes in using its unique auction process called OpenIPO to compete with the traditional methods of larger and more established banks. . served as placement agent for the financing. "We are pleased that these institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. chose to invest in Copper Mountain as we continue our transition to the rapidly-emerging Broadband Remote Access Server A broadband remote access server (BRAS) routes traffic to and from the digital subscriber line access multiplexers (DSLAM) on an Internet service provider's (ISP) network.[1] market," said Rick Gilbert, Chairman and Chief Executive Officer of Copper Mountain Networks, Inc. The shares and warrants have not been registered under the Securities Act of 1933 or applicable state securities laws and may not be offered or sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. or any state thereof absent registration under the Securities Act and applicable state securities laws or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. Copper Mountain intends to file with the Securities and Exchange Commission a registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the resale of the privately placed shares and the shares issuable upon exercise of the warrants. Today's announcement does not constitute an offer to sell or a solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy shares of Copper Mountain's common stock. About Copper Mountain Networks Copper Mountain Networks, Inc. (Nasdaq:CMTN) is a leading provider of intelligent broadband access solutions. The company offers a broad set of subscriber access and broadband remote access server (BRAS) equipment for ILECs, IXCs, PTTs, CLECs, IOCs, and other facilities-based carrier networks worldwide. These products enable efficient and scalable deployment of advanced voice, video, and data services while leveraging existing network infrastructures and reducing both capital and operational costs. Copper Mountain's products have been proven in some of the world's largest broadband network deployments. For more information, please visit the company's World Wide Web site at http://www.coppermountain.com. For investor relations Investor relations The process by which the corporation communicates with its investors. information, contact us at 858-410-7110 or IR@coppermountain.com. Copper Mountain Networks Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Warning Portions of this release contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding future events based on current expectations. These forward-looking statements and other statements, such as statements regarding Copper Mountain's private placement of common stock; Copper Mountain's operating plan; the capabilities of Copper Mountain's products; and the market opportunities for such products are subject to risks and uncertainties. Copper Mountain wishes to caution you that there are some factors that could cause actual results to differ materially from the results indicated by such statements. These factors include, but are not limited to: our current and future funding requirements, our ability to successfully introduce and commercialize our products; our ability to initiate and successfully complete laboratory trials with our current and prospective customers; our ability to compete effectively with other vendors of telecommunications equipment; our ability to keep pace with rapidly changing product requirements; and factors affecting the demand for broadband access technologies. Prospective investors are cautioned not to place undue reliance on such statements. Further, Copper Mountain expressly disclaims any obligation to update or revise any forward-looking statements or other statements contained herein to reflect future events or developments after the date hereof. We refer you to the documents Copper Mountain files from time to time with the Securities and Exchange Commission, specifically the section titled Risk Factors in our Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2003, and other reports and filings made with the Securities and Exchange Commission. |
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