Tuesday, August 22, 2006

Tut Systems Raises $10.8 Million in New Funding

Tut Systems, which supplies content processing and distribution products for digital video, announced the pending sale of $7.0 million of 8% convertible notes to private investors. The company also issued to the investors common stock purchase warrants to purchase 2,815,768 shares of common stock. If exercised in full for cash, the warrants would provide an additional $3.8 million in proceeds to the company.