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HyperSpace receives almost $30 million in critical funding

September 9, 2006 /

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MPC Computers’ parent company, HyperSpace Communications, has secured an additional $4.55 million in funding and received an extension of its $25 million line of credit, the company announced Friday.

"The extension of the credit facility and private placement offering are critical steps in the re-capitalization of the company," John P. Yeros, chairman and CEO of HyperSpace, said in a statement. "With these now accomplished, we are better positioned to seek additional financing and pursue our strategic objectives."

The company also announced that it had hired BBK, an international business advisory firm, as financial adviser. As part of that arrangement, BBK Director Robert D. Webb was named the company’s interim chief financial officer. The company’s former CFO, Mark Pougnet, had previously announced his intention to leave the company.

Ken Dey
Idaho Statesman

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