Tuesday, July 26, 2005

GigaBeam Raises $8.6 Million for its "Wireless Fiber"

GigaBeam Corporation closed $8.6 million in financing through an offering of the company's 10% Series A redeemable preferred stock and common stock purchase warrants and a placement of its common stock and common stock purchase warrants. Several senior officers and board members, including Louis Slaughter, Chairman and CEO, and Douglas Lockie, President and CTO, participated in the financing.

GigaBeam supplies a line of "WiFiber" equipment that operates in the 71-76 GHz and 81-86 GHz radio spectrum bands. This portion of the radio frequency spectrum has been authorized by the Federal Communications Commission for wireless point-to-point commercial use. Use of these frequency bands for commercial use was pioneered by GigaBeam's founders. GigaBeam's technology, utilizing these large blocks of authorized contiguous spectrum, enable multi Gigabit-per-second wireless communications using Gigabit Ethernet interfaces. The current speed achieved by GigaBeam's WiFiber 2 and anticipated WiFiber G Series product lines is 1 Gbps. Future GigaBeam products are expected to be capable of 10 Gbps.

See also