Harris & Harris Group, Inc. announced today that it invested $323,000 as part of a $10.5 million Series B Convertible Preferred financing of privately held Nantero, Inc. (www.nantero.com). Shareholders of Harris & Harris Group may be interested in reading Nantero's press release dated September 8, 2003 for more details. New investor Charles River Ventures led the Series B financing, which also included return investors Draper Fisher Jurvetson, Stata Venture Partners, Alex d'Arbeloff, Levy Venture Partners and Harris & Harris Group.
Nantero is developing NRAMTM, a high-density, nonvolatile random access memory chip using nanotechnology. Including its initial investment in August 2001, Harris & Harris Group has invested $813,000 in Nantero.
Harris & Harris Group is a publicly traded venture capital company that now makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS). The Company's last 12 initial private equity investments have been in tiny-technology enabled companies.
Harris & Harris Group, Inc. is a Business Development Company with 11,498,845 common shares outstanding.
Detailed information about Harris & Harris Group, Inc. and its holdings can be found on its website at http://www.TinyTechVC.com.
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K and recent Prospectus filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, Harris & Harris Group, Inc. undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties.