TeraXion closes $15 million in Series A financing

April 5, 2001
Apr. 5, 2001--TeraXion, a supplier of value-added optical components, announced the closing of a $15 million first round (Series A) private placement with a group of investors led by Wynnchurch Capital.

TeraXion, a supplier of value-added optical components, announced the closing of a $15 million first round (Series A) private placement with a group of investors led by Wynnchurch Capital. Within the framework of its strategic development, TeraXion will use the proceeds to further develop key R&D projects and increase its manufacturing capacity.

TeraXion provides customers with high-performance components based on Fiber Bragg Grating technology with improved optical specifications. These components act as filters to combine, extract, shape, balance, and stabilize light messages propagating in optical fibers to bring them to destination in a seamless manner.

TeraXion launched its athermal 25 GHz WDM filter at the OFC 2001 conference, thereby leading the company to ultra-dense WDM optical systems.

Proceeds from the financing will be used to develop the next generation of optical components required by the ultra-dense WDM optical networks and 40 Gbps transmission systems. TeraXion will also pursue its aggressive growth strategy by substantially increasing the capacity of its manufacturing facility, while maintaining its high standards of quality (Bellcore Telcordia). This investment will sustain the growth of the company and enable it to capture increasing market share.

This first round of investment includes key strategic investor Sumitomo Corporation Group and other institutional investors, namely Robertson Stephens, Business Development Bank of Canada, Innovatech Quebec and Royal Bank Capital Partners. As well, Wynnchurch Capital, LBG Capital, and a group of "angel" investors added to their existing stakes in this preferred stock financing. RBC Dominion Securities acted as advisor to TeraXion in this transaction.

About TeraXion:

TeraXion designs and manufactures innovative optical components for high-performance optical networks.

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