Cray Computer: The Cash Is Coming
He hasn't sold a computer yet, but at least now Seymour Cray has the money to keep trying. Cash-starved Cray Computer will take in up to $33 million from a private stock offering on June 11. The money should keep it humming for at least one more year. The supercomputer genius himself will invest $5 million, and 30 unidentified institutions--offshore investors among them--are buying in, too. Without the boost, Cray Computer--not to be confused with well-established Cray Research--would have been forced to close its doors for good before the end of summer.
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