LOS ANGELES, Jan. 12 -- fiberSpace Inc., a developer of high-performance laser sources for optical fiber communications, has entered into an agreement to sell approximately 12.1 million of series A redeemable convertible preferred stock to J.P. Morgan Capital, L.P, and one of its affiliates, and Morgenthaler Partners VI, L.P. The preferred stock is convertible into common stock of fiberSpace, subject to certain adjustments.
The fiberSpace technology is both practical and broad in scope, said Drew Lanza, venture partner at Morgenthaler Ventures. They are commercializing technologies that people have been excited about for a long time. We welcome fiberSpace to Morgenthaler's extensive portfolio of optical components companies.
JPM Capital is excited about being a part of the fiberSpace team, said James J. Pastoriza, partner at JP Morgan Capital. They have a unique laser technology that offers breakthrough price-performance across a number of communications applications.