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Syntax-Brillian Corporation announced
recently that it has raised approximately $15.5 million in a
strategic financing with investors including an entity
controlled by John Jung-Jyh Wu, President and CEO of TCV Group,
the company's primary supplier of plastic injection molded
parts, and WesTech Electronics Limited of Singapore, a provider
of electronic components for Syntax-Brillian's award-winning
Olevia branded TVs.
The investment comprises 2,118,172 shares
of common stock priced at $7.32 per share and three-year
warrants to purchase 211,817 shares of common stock at an
exercise price of $8.78 per share, exercisable beginning
September 27, 2007.
This investment provides capital to
continue Syntax-Brillian's growth, including expanding its
manufacturing base and supporting the company's efforts to
continue elevating awareness of the Olevia brand among consumers
worldwide. “We're impressed with Syntax-Brillian's rapid ascent
in the North American HDTV market and its potential to continue
to capture market share into the future. We look forward to
working closely, as a partner, with Syntax-Brillian to support
its volume requirements as it builds recognition of the Olevia
brand for HDTV excellence,” said Mr. Wu of TCV.
“This investment by key executives of TCV
Group and WesTech once again validates our strategic direction
and ongoing success,” said Syntax-Brillian CEO Vincent Sollitto.
“This investment further aligns the interests of Syntax-Brillian
and its shareholders with those of our valued supply chain
members as we continue to work together to develop even more
exciting next-generation digital entertainment products.”
Syntax-Brillian Corporation is one of the
world's leading manufacturers and marketers of LCD and LCoS(TM)
HDTVs and digital entertainment products. The company's lead
products include its Olevia brand (www.olevia.com) of widescreen
HDTV-ready and HD-built-in LCD TVs -- one of the fastest growing
global TV brands -- and its Gen II LCoS(TM) 720p and 1080p
rear-projection HDTVs for the high-end video/audio market.
Syntax-Brillian's global supply chain, Asian operations and
North American sales channels position the company as a market
leader in consumer and high-end HDTV and digital entertainment
products.
For more information, please visit
www.syntaxbrillian.com |