Phoseon Secures $1.3M Convertible Note.HILLSBORO, Ore. -- Phoseon Technology (www.phoseon.com) today announced that it has closed a convertible note in excess of $1.3 million, bringing the total amount of funding that Phoseon has raised to date to $9.2M. The financing closed August 31, 2006, and included all of the existing venture investors, a new institutional investor 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. , and individual private investors connected to Phoseon's target markets. The returning institutional investors include Fluke Venture Partners of Seattle, WA, SmartForest Ventures of Portland, OR, PacRim Ventures of Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , CA, and Capybara capybara (kăpĭbâr`ə), mammal of Central and much of South America. It is the largest living member of the order Rodentia (the rodents) reaching a length of 4 ft (120 cm) and a weight of 75 to 100 lb (34–45 kg). Ventures of Portland, OR. "This will provide Phoseon with capital to ramp our manufacturing capacity and continue our market penetration," commented Chris O'Leary, CFO See Chief Financial Officer. of Phoseon Technology. "We're very pleased that the financing 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. ." Phoseon makes solid state light sources and associated systems based on the company's patented Semiconductor Light Matrix (SLM See service level management system and spatial light modulator. ) technology. Customer's for Phoseon's SLM-based UV products come from a variety of industries such as industrial printing, adhesives and coatings while SLM-based Infrared products and systems are primarily used in semiconductor applications for inspection of wafers and MEMS (MicroElectroMechanical Systems) Tiny mechanical devices that are built onto semiconductor chips and are measured in micrometers. In the research labs since the 1980s, MEMS devices began to materialize as commercial products in the mid-1990s. devices. About Phoseon Technology Phoseon Technology is the pioneer of semiconductor light matrix (SLM) technology. The company manufactures high intensity light sources and equipment that use SLM technology to enable faster, cleaner, and more efficient industrial processes for semiconductor inspection, lithography, and the UV curing of photopolymers in adhesives, inks, and coatings. Phoseon's portfolio of products includes the RX series of high intensity UV light sources, the MX series of through-Silicon automated inspection systems, and the FX series of fluorescent measurement systems for organic materials. Founded in 2002, Phoseon is a venture-funded, privately-held corporation headquartered in Hillsboro, Oregon For more information on Phoseon and its products please visit www.phoseon.com. |
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