Ikanos Communications announced that Tallwood Venture Capital and Alcatel-Lucent are purchasing $11.25 million and $5.0 million, or approximately 27.4 million and 12.2 million shares, of the company’s common stock, respectively, at $0.41 per share for aggregate gross proceeds of $16.25 million.
Alcatel-Lucent has committed to loan the company up to $10.0 million, subject to the terms of the loan agreement. Tallwood has also agreed to purchase an additional $11.25 million of common stock at the same per share price.
In addition, Alcatel-Lucent has entered into a collaboration with Ikanos on the development of ultra-broadband products.
“As a world leader in ultra-broadband, we place a great deal of value in technology and innovation,” said Federico Guillen, president Fixed Networks Division at Alcatel-Lucent. “We set a very high standard when it comes to selecting our partners. The collaboration with Ikanos is aligned with our vision of bringing ultra-broadband to as many people as possible.”
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