MONTVALE, N.J.-Geotek Communications Inc. signed a purchase agreement relating to a private placement of $207 million principal amount of units consisting of 5-year zero coupon 15 percent senior secured discount notes due 2005, and 6.2 million 10-year warrants to purchase shares of common stock of Geotek at $9.90 per share.
The proceeds will fund the initial rollout of Geotek’s U.S. wireless digital voice and data network and for general corporate purposes.
