Teligent Gets $250 Million Financing Commitment - TheStreet

Teligent

(TGNT)

secured a $250 million financing commitment to fund its operations and construct fixed wireless and fiber-optic voice and data networks.

The company's shares recently lost 37%, or $1.94, to $3.38 in

Nasdaq

trading.

The Vienna, Va., company said it received the financing commitment from a fund managed by

Rose Glen Capital Management

. The funding covers the purchase of up to $250 million of Teligent's common stock, at Teligent's option, over a period of 18 months.

The investor can resell the shares in the open market through a registration statement that would be filed by Teligent with the

Securities and Exchange Commission

. Teligent will also issue the fund warrants for stock representing 6% of the commitment amount.