1/28/2002 - 3Dlabs®, Inc. Ltd. (Nasdaq:TDDD) announced today that it has closed an additional convertible subordinated debt financing in the amount of $10 million from a strategic investor. This announcement shortly follows a similar announcement for $4 million in new financing last December. The note bears interest at a rate of 4.5 percent per annum payable at maturity or conversion in cash or stock at the option of the company, and matures in January 2004. In the event that the note is converted, 3Dlabs would issue up to an approximately 4.5 million shares of common stock to the holder. The company intends to use the proceeds of the note for its working capital needs.
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