Cases and Deals
Deal

$10 Million PIPE Financing for GigaBeam

Blank Rome advised GigaBeam Corporation in a $10 million institutional financing.  The PIPE transaction, in which restricted shares are purchased in a public company, involved the private placement of $10 million stated value of the Company's Series C convertible preferred stock and common stock purchase warrants to purchase approximately 860,653 shares of common stock for an aggregate purchase price of $10 million to a limited number of institutional investors.

The transaction involved significant structuring issues to obtain the necessary consents from prior investors, and avoid the adverse accounting treatment under EITF-0019 and the new SEC position on the availability of Rule 415 for resales of a substantial amount of shares, said Brad Shiffman, who led the Blank Rome Team .

Based in Herndon, Virginia, GigaBeam is a provider of high-performance wireless point-to-point communications access solutions that operate in the licensed 71-76 GHz and 81-86 GHz radio spectrum bands.

provider of high-performacne wireless point-to-point communications access solutions