Alvarion to raise $2.9 million through private placement of its stock

Company announces plans to sell ordinary shares along with warrants

By Devika Patel

Knoxville, Tenn., May 29 - Alvarion Ltd. said it will take in $2.9 million in two private placements of stock.

The company will sell ordinary shares.

Investors also will receive warrants.

The Tel Aviv company develops and manufactures wireless products.

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