SALEM, N.H., July 27, 2015 /PRNewswire/ -- Ezenia! Inc. ("Ezenia" or the "Company") today announced it has emerged from Chapter 11 with financing provided by lenders including funds managed by MAST Capital Management, LLC ("MAST"). The proceeds of the financing will be used to repay existing creditors, to develop the Company's platform for insider threat detection, unified communications and desktop platform, and for general corporate purposes. In connection with the financing transaction, MAST and the other lenders will receive warrants to purchase 45% of the Company's outstanding shares on a fully diluted basis.
About Ezenia! Inc.
Ezenia! Inc., which will operate its software business through a newly formed subsidiary, Talarc Technologies, has a long track record of working with the US Armed Forces and intelligence agencies to provide a secure collaboration/communications platform. The Company seeks to leverage this experience in its next generation platform, which is intended to promote unified communications and protect the critical information of the U.S Department of Defense, Armed Forces and intelligence agencies from cybersecurity threats and information leaks. For more information about Ezenia, visit www.ezenia.com. Ezenia! Inc. common stock is not listed, traded or quoted on any U.S. stock exchange but is quoted on the OTC Pink Market under the symbol EZEN.
SOURCE Ezenia! Inc.