“Tricord Systems, Inc. (Nasdaq:TRCD) announced today that it has
closed a $26 million capital investment in the company through a
Private Placement of 3,250,000 shares of Common Stock. This
financing was managed by Wit SoundView and institutions
participating included Oppenheimer Funds and The Abernathy Group.
This equity infusion will be used to launch a new line of server
appliances.”
“Tricord is focused on bringing to market a line of
products in the category that International Data Corporation (IDC)
describes as appliance servers, commonly referred to as server
appliances. The initial products will be focused on Linux-based
Network-Attached Storage (NAS) incorporating Tricord’s
breakthrough software technology.”