PALO ALTO, Calif., Dec 10, 2007 (BUSINESS WIRE) -- Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC), the premier specialty finance company providing venture debt and equity to venture capital and private equity backed technology and life science companies at all stages of development, today announced that it provided $2 million of equity growth capital to E-Band Communications Corporation (EBCC) on November 30, 2007. EBCC designs and manufactures multi-gigabit capacity wireless communications systems for the 70/80 GHz E-band spectrum.
"EBCC's strong and experienced team and board - which includes industry luminaries such as former Motorola and Ericsson executive, Bo Hedfors - made the company an excellent financing candidate for Hercules," said Kim Davis King, managing director at Hercules. "We were also very impressed with EBCC's competitive advantage in this market, as the company has made very efficient use of its cash compared to its industry peers."
Incorporated at the end of 2003, the San Diego-based company sells its multi-gigabit wireless technology to customers including wireless service providers, large carriers, next generation service providers, government offices and the Department of Homeland Security, among others.
"Hercules' financial strength is a great addition for our short and longer term capital needs," said Sam Smookler, chief executive officer and president of EBCC. "With this round of funding, EBCC is moving forward with the release of our E Link 1000, for which we are currently taking orders and will begin shipping in Q1. Our new funding will also enable us to capitalize on the use of our proprietary MMICs (monolithic millimeter-wave integrated circuits) for rolling out additional new products throughout 2008."
EBCC's other leading investors include ADC Telecommunications, Express Ventures, Reliance Technology Ventures, Investec and a major wireless carrier.
About Hercules Technology Growth Capital, Inc.:
Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty finance company providing debt and equity growth capital to technology and life science companies at all stages of development. Founded in December 2003, the company primarily finances privately held companies backed by leading venture capital and private equity firms. Hercules invests in a broad range of ventures active in technology and life science industries and offers a full suite of growth capital products up and down the capital structure. The company is headquartered in Palo Alto, Calif. and has additional offices in the Boston, Boulder, Los Angeles and Chicago areas. Providing capital to publicly-traded or privately-held companies backed by leading venture capital and private equity firms involves a high degree of credit risk and may result in potential losses of capital. For more information, please visit www.HTGC.com.
Companies interested in learning more about financing opportunities should contact info@HTGC.com, or call 650.289.3060.
E-Band Communications Corporation (EBCC) develops and markets ultra-high capacity wireless communications systems for the 70/80 GHz E-band spectrum. Our products use leading-edge RF MMIC technology and provide best-in-class link performance. Our multi-gigabit capacity products address the requirements of carriers, enterprise, government, and Internet service providers building cost-efficient, wireless IP networks. We provide solutions for interconnection and backhaul of 4G, WiMAX, mobile networks, distributed antenna systems (DAS) and remote radio heads (RRH), in addition to the traditional Gigabit Ethernet access, last mile access, fiber backup, and network extension applications. For more information, please visit www.ebandcom.com.
The statements contained in this release that are not purely historical are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties and other factors we identify from time to time in our filings with the Securities and Exchange Commission. Although we believe that the assumptions on which these forward-looking statements are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Hercules assumes no obligation to update the forward-looking statements for subsequent events.
SOURCE: Hercules Technology Growth Capital, Inc.
Hercules Technology Growth Capital, Inc. Main, 650.289.3060 HT-PR firstname.lastname@example.org or Sally Borg, 650.289.3066 email@example.com
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