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Gadzoox Networks Secures Additional Funding
 

Gadzoox Networks Secures Additional Funding

Wednesday Sep 5th 2001 by Network Storage Forum Staff

Balch Hill Capital and Galleon Group invest in company

Gadzoox Networks Inc., a supplier of Storage Area Network (SAN) products, today announced that it closed on the sale of $7.5 million of common stock in a transaction led by Balch Hill Capital and Galleon Group on August 30, 2001.

According to the company, the common stock was sold at a slight premium to market ($.10 over the closing price of $1.40 on August 31, 2001) with no attached warrants. The investment will be used to continue the launch of Gadzoox Networks' Slingshot 2 Gb Open Fabric switch family, including the recently announced Slingshot 4210, and to support the development of future products and programs.

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