Digital TV technology firm, MDU Communications International, has received USD10m in debt financing from Full Circle Capital and First Capital.
The deal brings MDU’s total credit facility to USD30m. Under the deal, MDU will issue Full Circle Capital and First Capital five-year warrants to collectively purchase 750,000 MDU shares of common stock at 60 cents per share.
New Jersey-based MDU provides communications services to satellite, cable and broadband TV firms. It primarily works with satellite TV provider DirecTV.
The number of satellite viewers in North and South America reached 39.5 millions in 2007, an 8.8% increase from the year before, according to an iSuppli study. IPTV subscribers reached 1.8m last year, almost four times more than the 501,000 viewers recorded in 2006.