CNET News: SGI Exits Bankruptcy Protection

“Silicon Graphics exited Chapter 11 bankruptcy protection on
Tuesday with a new board of directors and new funding to try to
restore its faltering high-end computer business.

“The Mountain View, Calif.-based company, once a Silicon Valley
icon, eliminated its long-term debt and raised $115 million to help
it through the transition out of bankruptcy protection. The funding
arrangements, through Morgan Stanley Senior Funding and General
Electric Capital, also include an $85 million loan and a $30
million revolving line of credit, the company said…”

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