NewPath Networks Announces Funding Deal With Square 1 Bank

Mon Aug 17, 2009 9:00am EDT

* Reuters is not responsible for the content in this press release.

  SEATTLE, WA, Aug 17 (MARKET WIRE) -- 
NewPath Networks, an industry leader in the design, development and
operation of fiber-fed DAS (distributed antenna systems) wireless carrier
networks, today announced that Square 1 Bank will provide the company
with a $10 million line of credit. NewPath will use the line of credit to
help fund continued expansion of the company's DAS networks in new and
existing markets throughout the U.S.

    "The line of credit from Square 1 Bank is a key component of our plan to
support the continued demand for tier-one wireless voice and data services
through the expansion of our multi-carrier DAS networks," said Mike
Kavanagh, chief executive officer of NewPath Networks. "We are excited
about the partnership with Square 1. It validates New Path's strategic
plan to meet increasing market demand for wireless services and to
deliver value for both our clients and our investors."

    "We look forward to being a partner in New Path's future growth and
profitability. We are impressed with the strategic plan their management
team has in place, and are pleased to support a company who shares the
adaptive, flexible and forward-looking approach that our bank values,"
said Bob Van Nortwick, Western Regional Manager for Square 1 Bank.

    ABOUT SQUARE 1 BANK

    Square 1 Bank is a full service commercial bank providing financial
services to venture capital firms and entrepreneurs. Square 1's expertise,
focus and strong capital base provide solid support for its clients' needs
in all stages of growth and expansion. To serve its relationships, Square
1 has offices coast to coast in Austin, Boston, Boulder, Durham, McLean,
New York, San Diego, Santa Monica, Seattle, and Silicon Valley. For more
information, visit www.square1bank.com.

    ABOUT NEWPATH NETWORKS

    NewPath Networks is a wireless infrastructure company that designs,
develops and operates fiber-fed wireless carrier networks using a
distributed antenna architecture to improve signal strength and network
capacity. NewPath's solutions address wireless network capacity demands
due to growth in data and multimedia applications. The company's
cost-effective, invisible wireless networks accommodate multiple carriers
without new cell site or tower build-out. Communities choose NewPath
Networks because the distributed antenna architecture enables concealment
of antennas and equipment, and provides cellular coverage across multiple
carriers with minimal aesthetic impact. NewPath's solutions are also ideal
for large corporate or university campus environments, where the systems
provide on-campus coverage and capacity for multiple carriers with a
single system that is managed by NewPath Networks. Service providers that
license space on these systems gain efficiencies in time-to-market and
reduced capital expenditures for hardware, facilities, and stealth
building costs, as well as reductions in ongoing operational expenses.
For more information, visit http://www.newpathnetworks.net.

    

Media contact:
Kacey Lemieux
Loop Marketing for NewPath Networks
Email Contact
425-346-6717

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