Ciena Corporation (NASDAQ: CIEN), Sycamore Networks, Inc. (NASDAQ: SCMR), Oracle XTL Biopharmaceuticals Ltd. (NASDAQ: XTLB), Towerstream Corporation (Nasdaq: TWER), Cogent Communications Group, Inc. (Nasdaq: CCOI).
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Ciena Corporation (NASDAQ: CIEN), even on 115,000 shares, yesterday announced that it has priced an offering of $450 million aggregate principal amount of its Convertible Senior Notes due 2017, pursuant to a registration statement filed with the Securities and Exchange Commission. In addition, the underwriter has been granted an option to purchase up to an additional $50 million aggregate principal amount of Notes from Ciena solely to cover overallotments. The Notes will be senior unsecured obligations and will rank equally with all of Ciena's other existing and future senior unsecured debt. The Notes will bear interest at the rate of 0.875% per annum from June 11, 2007, payable semi-annually on June 15 and December 15, commencing on December 15, 2007.
Sycamore Networks, Inc. (NASDAQ: SCMR), even on 25,000 shares, yesterday announced that the Audit Committee of its Board of Directors has completed its independent investigation into the Company's stock option granting practices and related accounting. The 2006 investigation identified certain stock option grants for which the originally recorded measurement dates were incorrect. The Company estimates that it will record, as a result of this investigation, an additional non-cash stock option expense of approximately $215.6 million, in the aggregate, for the periods covering fiscal years 2000 through 2007. Of this expense, approximately 97% was recorded for the periods through the fiscal year ending July 31, 2004. These adjustments will not have any impact on the Company's previously reported revenues or cash balances for any prior period.
XTL Biopharmaceuticals Ltd. (NASDAQ: XTLB), even on 237,000 shares, announced today that it has completed the analysis of results from a Phase I clinical trial with XTL-2125 in patients with chronic Hepatitis C. This Phase I trial was a placebo controlled, randomized, dose escalating study, which evaluated the safety, tolerability and antiviral activity of single and multiple doses of XTL-2125. The study enrolled 56 patients into seven cohorts comprised of eight patients each (of which two are placebo patients). Each patient received a single dose, followed by a 14-day multi-dosing regimen commencing one week after the single dose administration. The highest daily multi-dose regimen that was evaluated in the trial was 1800mg per day (600mg three times per day).
Towerstream Corporation (Nasdaq: TWER), even on 5,800 shares, a leading fixed WiMAX service provider, announced today that it has entered into definitive agreements with investors for the sale of 10 million shares of its common stock at a price of $4.00 per share.
Cogent Communications Group, Inc. (Nasdaq: CCOI), even on 44,000 shares, announced yesterday that it priced its offering of $200 million principal amount of convertible senior notes due 2027. The notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Cogent has also granted the initial purchaser of the notes a 20-day option to purchase up to an additional $20 million aggregate principal amount of notes, solely to cover over-allotments.
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