SAN FRANCISCO, July 9 /PRNewswire-FirstCall/ -- Merriman Curhan Ford (Nasdaq: MERR) acted as financial advisor in Telanetix, Inc.'s (OTC Bulletin Board: TNXI) $10.5 million recapitalization.
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Through the recapitalization, Telanetix, Inc. was able to reorganize its senior debt, reducing it from $29.6 million to $7.5 million, and obtain $3.0 million for working capital through a backstop of a yet to be completed rights offering. The transaction was completed on June 30, 2010.
"I am extremely pleased with the outcome of our comprehensive recapitalization that was led by our investment banking team at Merriman," said Doug Johnson, CEO of Telanetix, Inc. "Merriman proved to be the right banking solution for us; they worked diligently in sourcing opportunities in a difficult market and provided excellent guidance through the transaction process to the close of the transaction. Obviously, this is a challenging market for micro cap companies, and Merriman provided the expertise required to navigate it successfully."
Details on the transaction can be found at Telanetix, Inc.'s web site: www.telanetix.com.
About Telanetix, Inc.
Telanetix is a leading communications solutions provider offering next generation voice services to the business market. Telanetix solutions meet the real-world communications demands of its customers with powerful, cost effective industry-leading communication solutions. The company's voice offerings, marketed under the "AccessLine" brand, give business customers a flexible, easy to use, cost effective alternative to today's traditional phone service, offering flexible calling solutions, a simpler installation experience, and a greater range of support options than traditional telecom providers.
About Merriman Curhan Ford
Merriman Curhan Ford (NASDAQ: MERR) is a financial services firm focused on fast-growing companies and the institutions that invest in them. The company offers high-quality investment banking, equity research, institutional services and corporate & venture services, and specializes in growth industry sectors: Technology, CleanTech, and Consumer, Media & Internet. For more information, please go to www.mcfco.com.
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K/A filed on April 30, 2010. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K/A filed on April 30, 2010 and the Form 10-Q filed on May 17, 2010, together with this press release and the financial information contained herein, are available on our website, www.mcfco.com. Please click on "Investor Relations."
SOURCE Merriman Curhan Ford
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