Advertisement

Multa’s Private Stock Sale Yields $13.5 Million

Share

Privately held Multa Communications Corp. said it recently raised $13.5 million from a private sale of 6 million of the company’s shares at $2.25 each. Multacom Chief Executive Abbey Silverstone said the money raised came mostly from investors in China and Taiwan.

The communications company, based in Industry, will use the proceeds to expand its network in the United States and Asia as well as fund the purchase of transoceanic lines. Multacom also plans to build a pilot high-speed wireless broadband network for use by more than 2,000 businesses in and around Industry. Silverstone said Multacom expects to offer wireless service in the next two months.

Advertisement