Thursday, March 30, 2006
Syntax-Brillian Gets Equity Injection
Tempe, Arizona-based LCD HDTV maker Syntax-Brillian has received a strategic investment from Taiwan Kolin Co. Ltd., the firm is reporting today. Syntax sold 3 million shares of its common stock to the firm at $5.00 per share, for a total $15M investment. The firm also said that Kolin received a five-year warrant to purchase 750,000 shares of its stock at the same price. Kolin is an existing investor in the firm, and Syntax said that this new investment brings the total percentage of the company owned by Kolin to 12.5%. The investment comes in conjunciton with a plan by Kolin and Syntax-Brillian to open a new, Chinese-based company in Nanjing to provide LCD TV manufacturing and sales.