Tuesday, July 24, 2007

Terabeam Scores $7.5M In PIPE

San Jose-based Terabeam, which owns Proxim Wireless and Ricochet Networks, said today that it has completed a private placement of common stock which garnered the firm $7.5M. Investors in the firm wree not disclosed. Proxim is a developer of hardware for the municipal wireless network market; Ricochet is an Internet Service provider that provides wireless services in Denver, Colorado.