SpectraSite Inc. filed a statement with the Securities and Exchange Commission to offer 250,000 shares of its common stock to adjust to a market price obligation. This will fulfill a stock buyback agreement with Goldman, Sachs & Co., and the market price adjustment is about $9.4 million, said the tower operator. “The actual number of shares of common stock to be sold in order to satisfy the market price adjustment obligation will depend on the net proceeds received at the time of the sale of the shares,” said the company, explaining that about 165,000 shares of its stock of 250,000 shares will settle the obligation.
Alamosa Holdings Inc. has set April 18 for the payment of its dividends for its 7.5 percent series B convertible preferred stock. The company said that it has the option to pay in cash shares of its series C convertible preferred stock, shares of its common stock or a combination through July 31, 2008.
Siano Mobile Silicon snared $11.5 million in Series A funding led by Jerusalem Venture Partners, the semiconductor chip provider said. Walden Israel and Star Ventures also participated in the financing. Siano, which claims 30 employees, said it will primarily use the capital to develop technology for mobile digital television reception. The 1-year-old company designs and sells chips but doesn’t own a manufacturing plant, opting to contract out to chipmakers. “The new emerging market of TV on mobile requires breakthrough solutions that will overcome issues of mobility, power consumption and physical size, while minimizing the overhead on the already-sensitive bill of material of handheld devices,” said Dr. Ulrich Schumacher, a member of Siano’s board of directors.
Trapeze Networks, which makes wireless local area networking systems, said it raised $17.5 million in its third-round series C funding. The company has raised a total of $67.5 million to date. Leading the series with a $4 million investment was venture-capital firm Duff Ackerman & Goodrich. The company also received funding via a recently announced alliance with Nortel Networks Ltd., as well as from several original first- and second-round investors.
