Alvarion Ltd. (ALVR) - NASDAQ
ALVR is defunct.
  • Sep. 4, 2013, 10:06 AM
    • The court supervising Alvarion's (ALVR +1%) receivership has approved the sale of the company to Valley Telecom for a minimum of $10.4M (NIS38M). Alvarion's Receiver previously estimated that the company has $23M in debt.
    • A creditors plan is to be submitted no later than Oct. 2. If approved by Jan. 30, Valley Telecom will pay an additional $1.7M (NIS6.25M), and the Receiver will be issued shares representing 15% of outstanding shares post settlement.
    • Valley Telecom's previous revised minimum offer was $5.7M (NIS20.75M), excluding an additional amount from the sale of Alvarion's assets, inventory, and accounts receivable.
    • Assuming the equity structure of the previous offer, Valley Telecom will receive newly-issued shares representing 75% of shares outstanding. Existing shareholders will be diluted to 10%.
    | Sep. 4, 2013, 10:06 AM | 6 Comments
  • Sep. 3, 2013, 8:48 AM
    • Shares of Alvarion (ALVR) jump 28% pre-market after the court supervising its receivership approved two motions over the weekend. The first allows Alvarion to continue its appeal to Nasdaq for continued listing of its shares. The second permits continued operations through Sept. 15 in order to facilitate Valley Telecom's assumption of management and financing (subject to the court's approval of Valley's bid).
    • Previous: Alvarion spikes PM following improved offer from Valley Telecom
    | Sep. 3, 2013, 8:48 AM
  • Aug. 29, 2013, 8:36 AM
    • Alvarion shares (ALVR) are up 42.6% PM after the company's Receiver submitted an improved offer from Valley Telecom to the court. The bid follows a new round of negotiations with bidding parties.
    • The new proposal represents a total minimum offer of $5.7M (NIS20.75M), comprised of $3.3M (NIS12M) in 2 payments by Sept. 30, a minimum $1.7M (NIS6.25M) in 4 payments by May 2014, $700K (NIS2.5M) for patents by the end of 2013, and an additional amount based on sale of Alvarion's assets, inventory, and accounts receivable.
    • Under the new offer, Valley Telecom would assume management of Alvarion on Sept. 15. It would also receive newly-issued shares representing 75% of shares outstanding. Current shareholders would be diluted to 10%.
    • The new offer is an improvement from Valley Telecom's previous proposal of a minimum of $3.8M for the company.
    | Aug. 29, 2013, 8:36 AM
Company Description
Alvarion, Ltd. designs, develops and markets wireless products. Its systems are used for providing Internet access and voice and data services for subscribers, for feeding of cellular networks, for building connectivity, & for wireless local area network.
Sector: Technology
Industry: Wireless Communications
Country: United States