May 3, 2004 12:00 PM

Airnet Communications announced it has received purchase orders worth $3 million from TECORE Wireless to provide its AdaptaCell BTS 4000 software-defined base station, AirSite Backhaul Free base station and related common equipment to three deployments in the Middle East and Africa. The orders represent the first international deployments of the AdaptaCell BTS 4000 product line, Airnet said.

In other news, Airnet announced it raised $5.5 million by selling about 6 million shares of its stock at $0.9075 per share to private investors. The investors also received a 5-1/2 year warrant to purchase an additional 3 million shares at an exercise price of $1.32 per share. Airnet said the capital would be used to fund operations.

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