HyperSpace Communications, Inc. Announces New Financing and Retention of Additional Investment Banker for Private Placement
April 26 2006 - 10:00AM
PR Newswire (US)
DENVER, April 26 /PRNewswire-FirstCall/ -- HyperSpace
Communications, Inc. (AMEX:HCO), announced today that it has
secured a $5 million bridge loan from existing investors and that
it has retained the services of an additional investment bank to
act as a placement agent in connection with a potential private
placement of up to $25 million. "Today's announcements are
important steps in the capitalization of the company," said John P.
Yeros, Chairman and CEO of HyperSpace Communications, Inc. More
information concerning the $5 million bridge loan will be released
in a forthcoming Form 8-K filing. The engagement agreements with
investment banks do not guarantee that the private placement will
be successful and the investment banks have not committed to
purchase any securities. About HyperSpace Communications:
HyperSpace Communications, Inc. (AMEX:HCO), through its subsidiary
MPC Computers, provides enterprise IT hardware solutions to
mid-sized businesses, government agencies and education
organizations. MPC offers standards-based server and storage
products, along with PC products and computer peripherals, all of
which are backed by an industry-leading level of service and
support. Additionally, the company provides contract manufacturing
and distribution services to partners in the PC industry through
its DirectCM division. For more information, visit HyperSpace
online at http://www.ehyperspace.com/ Cautionary Statement Certain
statements in this press release are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements involve a number of risks, uncertainties and other
factors that could cause actual results, performance or
achievements of HyperSpace Communications to be materially
different from any future results, performance or achievements
expressed or implied by these forward-looking statements. The $5
million loan is not sufficient to fully address the company's
liquidity constraints. There can be no assurance that any private
placement will be completed, or that, if completed, the funds
raised in the private placement will be sufficient to fully address
the company's liquidity constraints. No investment bank has
guaranteed that it can raise any amount of money in a private
placement and deal terms may differ materially from those currently
contemplated. Other factors, which could materially affect such
forward-looking statements, can be found in HyperSpace
Communications' filings with the Securities and Exchange
Commission, including risk factors at http://www.sec.gov/.
Investors, potential investors and other readers are urged to
consider these factors carefully in evaluating the forward-looking
statements and are cautioned not to place undue reliance on such
forward-looking statements. The forward-looking statements made
herein are only made as of the date of this press release and
HyperSpace Communications undertakes no obligation to publicly
update such forward- looking statements to reflect subsequent
events or circumstances. DATASOURCE: HyperSpace Communications,
Inc. CONTACT: Ross Ely of HyperSpace Communications, Inc.,
+1-208-893-1560, Web site: http://www.ehyperspace.com/
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