RESEARCH TRIANGLE PARK, NC – Overture Networks has completed its merger with Hatteras Networks. Known as Overture Networks, the combined company also reported $43.95 million from a financing connected to the merger, according to a regulatory filing, but the money was not new funding.
The company issued this statement in regard to the previous reports regarding the U.S. Securities and Exchange Commission filing:
Overture later issued a statement:
“On March 22, 2011, it was reported that “Overture Networks has closed on a fundraiser of nearly $44 million.” This is inaccurate. On March 18, 2011, a Form D filed with the Securities and Exchange Commission, a legally obligated, routine filing followed the recent merger between Overture Networks and Hatteras Networks that was announced March 1, 2011. As the company previously stated, it did not raise any additional cash related to the merger of Overture and Hatteras. As a privately held organization, Overture Networks does not disclose or discuss financial information.”
The merger deal, announced March 1, closed last week. The company revealed in a filing with the US Securities and Exchange Commission that it raised $43.95 million from 18 investors March 9.
Overture previously raised $17.2 million in April for a total of $62 million from investors who include Morgenthaler Ventures, Intersouth Partners, TDF Fund, Tenaya Capital and QuestMark Partners.
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Tags: Ethernet services platform, financing, Hatteras Networks, Intersouth Partners, Jeff Reedy, Kevin Sheehan, merger, Morgenthaler Ventures, Overture Networks, QuestMark Partners, TDF Fund, Tenaya Capital, venture capital