GREENVILLE, S.C.-Conxus Communications Inc. completed a $35 million private equity placement to fund continued network buildout of its narrowband personal communications services network.
Donaldson Lufkin & Jenrette Inc. served as placement agent for the offering, and Chase Capital Partners was lead investor along with current Conxus shareholders and new institutional investors, said the company.
Conxus said it also secured $195 million in vendor and bank financing from Motorola Inc., Glenayre Technologies Inc. and The Chase Manhattan Bank for network buildout and working capital.
