Pryor Cashman represented TerraNova Capital Equities, Inc. as placement agent in an $8 million private placement offering which will fund the newly-invented – and first ever privately held - foundational modulation known as Transpositional Modulation. This groundbreaking form of Radio Frequency modulation was developed and patented by TM Technologies, Inc.

In what is believed to be the first new standout modulation technology since AM and FM were discovered in the 1930’s, Transpositional Modulation increases the capacity of the existing wireless spectrum by at least 100%, and in most cases by a much greater percentage due to its unprecedented spectrum efficiencies and ability to maximize data rates in a given bandwidth allotment. The technology also carries far-reaching economic potential given its use of “back haul data” and mobile phone transmission applications, where the existing spectrum is being rapidly depleted. 

The offering was structured in units comprised of 9% senior convertible notes and warrants. 

Partner Eric M. Hellige, co-chair of Pryor Cashman’s Corporate Group, led the representation of TerraNova and was assisted in this transaction by Associate Zachary Frimet. 

To learn more about Transposition Modulation, please click here.