Allied Riser Communications Announces Initial Public Offering
DALLAS, Oct. 29 /PRNewswire/ -- Allied Riser Communications (Nasdaq: ARCC) announced today the initial public offering of its common stock on the Nasdaq National Market trading under the symbol ARCC.
The initial public offering price for 15,750,000 shares offered by the company was $18 per share. The proceeds will be used for the construction of in-building networks, working capital and general corporate purposes. Goldman, Sachs and Co. is the lead underwriter for the transaction. The co-managers are Goldman, Sachs and Co.; Merrill Lynch & Co.; Donaldson, Lufkin & Jenrette; and Thomas Weisel Partners LLC.
Allied Riser Communications Corporation (ARC) is a facilities-based provider of broadband data, video and voice communications services. ARC's target market is small- and medium-sized businesses. ARC delivers services over fiber-optic networks that it designs, constructs, owns and operates inside large- and medium-sized office buildings.
ARC's Internet access services provide a direct "always-on" connection to the Internet at speeds up to 175 times faster than standard dial-up service. Over this infrastructure, ARC offers ultra high-speed Internet access, enhanced conference calling services, and other broadband data services.
ARC currently serves customers in a diverse portfolio of commercial properties including buildings in San Francisco, Chicago, Dallas, Seattle, Los Angeles, Denver, Washington, D.C., Atlanta, Cleveland, Boston, Philadelphia, Houston, and New York. ARC has signed agreements with more than a dozen leading real estate companies to obtain access to install its fiber-optic networks in buildings containing more than 325 million rentable square feet of office space in cities around the country.
A copy of the prospectus relating to this offering may be obtained by calling 877-FOR-ARCC (877-367-2722). Information about Allied Riser Communications can be obtained by accessing the company's Web site at www.alliedriser.com .
Allied Riser Communic(Ipo) arcc poised to become a 40+ stock....
here's some DD....steve schovee, chairman of arcc is also one of the founding directors of verio (VRIO), check the chart on vrio, then stand back and let steve work his magic on arcc....this sector is ready to turn "red hot" again, plus the consolidation that will take place will be tremendous. 18 is a gift, before the qp ends, look for a double, with 60-80 as a 12 month high....quality co with quality management....adding to my position under 20 all week....good luck |
