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IXnet Announces Initial Public Offering
PR Newswire - August 12, 1999 11:35
NEW YORK, Aug. 12 /PRNewswire/ -- IXnet, Inc. (Nasdaq: EXNT) today
announced its initial public offering of 6.5 million shares of common stock at a
price of $15 per share.
IXnet, a network services company, provides a high performance global
extranet designed exclusively for the financial community.
The company's shares will begin trading today on the Nasdaq National Market
under the trading symbol "EXNT."
The managing underwriters of the offering are Donaldson, Lufkin & Jenrette,
Salomon Smith Barney, Merrill Lynch & Co., First Union Capital Markets
Corp. and DLJdirect Inc. 6,500,000 shares of common stock are being offered
and the underwriters have been granted an option to purchase up to an
additional 975,000 shares of common stock to cover over-allotments, if any.
Common stock to be held by IXnet's parent company, IPC Information
Systems, Inc., immediately after this offering will be 43,100,000 shares. IPC
Information Systems, Inc. is a wholly owned subsidiary of IPC
Communications, Inc. (Amex: IPI).
A copy of the prospectus related to the offering may be obtained from:
Donaldson, Lufkin & Jenrette, 277 Park Avenue, New York, NY 10172,
212-892-3000, and Salomon Smith Barney, 388 Greenwich Street, New York,
NY 10013, 212-783-7000.
About IXnet: IXnet (Nasdaq: EXNT), a network services company, provides a
high performance global extranet designed exclusively for the financial
community. Through a single connection, IXnet delivers end-to-end multiple
data and voice communications solutions around the world, 24 hours a day.
Customers get voice and data connectivity, plus financial content and
transactional capabilities, through the IXnet extranet without having to access
multiple disparate public networks or rely on multiple customer service
organizations. IXnet's customers comprise more than 500 financial services
firms located in 34 countries.
A registration statement relating to these securities has been filed with and
declared effective by the Securities and Exchange Commission. This release is
neither an offer to sell nor a solicitation of an offer to buy common stock, nor
will there be any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.
SOURCE IXnet, Inc.
/CONTACT: Procter Lippincott of Spring, O'Brien & Co., 212-620-7100,
ext. 228, procter@spring-obrien.com, for IXnet/ |
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