WiMAX provider Towerstream Corp. said Wednesday it will sell 10 million shares of its stock for $4 each.
“We have spoken with many investors who understand the value of our WiMAX business,” said Jeff Thompson, president and CEO of Towerstream. “We believe that there is a growing interest in the future of WiMAX and our position in the WiMAX marketplace. The proceeds from this offering will provide us with the capital to build out our target markets and solidify our position as a WiMAX leader.”
Lazard Capital Markets LLC served as the lead placement agent for this offering and Canaccord Adams Inc. and Morgan Joseph & Co. Inc. served as co-placement agents. The offering is expected to close June 11.
Towerstream Corp. www.towerstream.com
