Syntax-Brillian Raises $16M

Tempe Arizona-based LCD manufacturer Syntax-Brillian announced this morning that it has raised $16M from institutional investors. The firm said that it sold $16M in Convertible Preferred stock. C.E. unterberg Towbin was the placement agent. The deal also includes five-yera warrants for up to 1.65M shares of Syntax-Brillian common stock. Syntax Brillian is a manufacturer of LCD and HDTV and other TV products, and is the result of the merger of Syntax Groups and Brillian Corporation.