FALLS CHURCH, Va.-Terabeam Wireless, which provides broadband wireless solutions, said it has repurchased 1 million shares of its common stock for a total price of $2 million.
The shares originally were issued a year ago as part of a consideration paid to stockholders of KarlNet Inc. in connection with Terabeam’s acquisition of that company. Robert Fitzgerald, chief executive officer of the company, said the repurchase reduces the number of Terabeam’s outstanding common shares by 4.5 percent.
