GigaBeam Expands WiFiber Deal in California
The city of Manteca, Calif., has upped its order with GigaBeam Corporation to now include eight WiFiber wireless fiber links. Terms of the revised agreement were not disclosed.
The company's WiFiber line, which operates in the 71-76 GHz and 81-86 GHz spectrum bands, currently offers speeds of one Gigabit per second. The company is working on new products that support 10 Gigabits per second.
Manteca officials say they selected the WiFiber solution because it enables the city to interconnect government buildings and facilities via high-bandwidth solutions for a fraction of the cost they would incur to install their own fiber.
GigaBeam touts its technology as being able to be installed in one day, in part because it does not require significant regulatory and environmental approvals prior to deployment.
In November, GigaBeam announced the closing of a private placement worth $18.9 million. The $18.9 million was raised from preferred stock and common stock purchase warrants. The conversion price of the preferred stock and the exercise price of the warrants were roughly $7.62 and $7.98, respectively.