Sorrento Networks completes financing agreement

Aug. 3, 2001
Aug. 3, 2001--The investment provides required capital for Sorrento's products in the metro and regional markets.

Sorrento Networks Corporation (Nasdaq NM: FIBR), a provider of metro and regional optical networking solutions, announced it has issued approximately $32 million of senior convertible debentures to a group of institutional investors. The investment allows for the conversion of debentures into, and exercise of associated warrants for, the company's common stock at a premium to the Company's closing stock price on August 1, 2001.

The investment-banking firm, SG Cowen Securities Corporation, assisted the Company in raising the financing from a syndicate of several institutional investors. A portion of the financing may be subject to regulatory and other approvals.

The investment provides required capital for Sorrento's products in the metro and regional markets. Sorrento Networks supplies optical networking solutions to a broad range of customers including, incumbent telecommunications service providers (Deutsche Telekom, Belgacom), cable and multi-service operators (Cox Communications, AT&T Broadband, United Pan-Europe Communications), and "utility-comms" (Edison Carrier Services, El Paso Global Networks).

About Sorrento:

Sorrento Networks, headquartered in San Diego, is a supplier of end-to-end, intelligent optical networking solutions for metro and regional applications worldwide. For more information, visit

Sponsored Recommendations

Coherent Routing and Optical Transport – Getting Under the Covers

April 11, 2024
Join us as we delve into the symbiotic relationship between IPoDWDM and cutting-edge optical transport innovations, revolutionizing the landscape of data transmission.

Data Center Network Advances

April 2, 2024
Lightwave’s latest on-topic eBook, which AFL and Henkel sponsor, will address advances in data center technology. The eBook looks at various topics, ranging...

Supporting 5G with Fiber

April 12, 2023
Network operators continue their 5G coverage expansion – which means they also continue to roll out fiber to support such initiatives. The articles in this Lightwave On ...

FTTx Deployment Strategies

March 29, 2023
Cable operators continue to deploy fiber in their networks at anincreasing rate. As fiber grows in importance, proper choices regardinghow to best fit fiber to the home together...