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P-Com closes equity financing

CAMPBELL, Calif.-P-Com Inc. closed an $8 million equity financing, as part of a $13 million equity round.

The company said it issued 57,321,430 shares of unregistered common stock in connection with the $8 million equity closing and has agreed to register the new shares.

The company made two other financial announcements, including: a 1-for-5 reverse stock split previously approved by shareholders and agreements with subordinated noteholders to restructure all but $1.7 million of its $29.3 million in debt due November 2002.

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