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PFG Precision Optics - Precision Optics 12/24 LB

Essex Receives New Funding

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COLUMBIA, Md., Dec. 18 -- Essex Corp. announced it has received additional funding of $500,000 from a member of its investor group, Hannon Family LLC. The funding was received in the form of a senior debt instrument, convertible to common equity shares through December 2004. The additional funding is part of a near-term operations and funding strategy that emphasizes core business expansion and investment in new technology and products, Essex said. "Today's financial markets are rewarding healthy companies with attractive choices of debt funding as an alternative to equity funding," said...Read full article

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    Published: December 2002
    CommunicationsdefenseNews & Features

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