Towerstream begins trading today
The common stock of Towerstream Corp. begins trading today on the OTC Bulletin Board under the symbol TWER.
Towerstream of Middletown, R.I., is a fixed wireless Internet provider that is gearing up WiMAX networks in such markets as Greater Boston, Providence, and New York.
WiMAX is a standards-based technology enabling the delivery of last-mile wireless broadband access as an alternative to wired broadband like cable; WiMAX provides fixed, nomadic, portable, and soon mobile wireless broadband connectivity without the need for direct line-of-sight with a base station, according to WiMAX Forum, an industry group.
"We have a great opportunity to grow our WiMAX solutions," chief executive Jeff Thompson said in a statement, "and the entry into the public markets provides us with the financing necessary to continue our growth and execute our strategy to be a leader in our space."
Towerstream is going public by merging with a Nevada company, University Girls Calendar Ltd. University Girls Calendar traded yesterday at 66 cents a share, up 8 cents, or 14.7 percent.
(By Chris Reidy, Globe staff)
