Nat'l Information sets IPO at 13 mln shrs
[Provider of Internet-based electronic government solutions that help governments reduce costs and provide a higher level of service to businesses and citizens.]
Company Website.
nicusa.com
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WASHINGTON, June 18 (Reuters) - National Information Consortium Inc., which designs and builds Internet portals for several U.S. state governments, said Friday up to 13 million shares of common stock will be available for sale to the public for the first time.
In an amended initial public offering filed with the Securities and Exchange Commission, the Overland Park, Kansas-based company said of the total amount, 10 million common shares will be sold by the company and three million common shares will be offered by the selling shareholders.
Previously, the company did not disclose the amount of stock to be offered nor the estimated initial selling price.
The company estimated the initial stock price to between $9 and $11 per share.
The company has applied to trade on Nasdaq under the stock symbol (Nasdaq:EGOV - news).
The offering will be made through Hambrecht & Quist, Thomas Weisel Partners LLC, FAC/Equities and Volpe Brown Whelan & Co.
After the offering, outstanding common will total 52,481,996 shares.
Net proceeds will be used to increase marketing efforts, create new products and services, further development of infrastructure, working capital, general corporate purposes, and potential acquisitions. |
