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Revision History For: EONC: eOn Communications Corporation

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eOn Communications sets IPO at 3 mln shares

WASHINGTON, Jan 10 (Reuters) - eOn Communications Corp. said on Monday it plans to sell three million shares in a projected range of $10-$12 a share in its initial public offering.

The company plans to sell 2.24 million shares while selling stockholders plan to sell 760,000 shares, according to an amended prospectus filed with the Securities and Exchange Commission.

eOn Communications designs, develops and markets Linux communications servers and software that integrates and manages voice, email and Internet communications for customer contact centers and other applications.

The firm, based in Memphis, Tenn., said it plans to use the $22.4 million in net proceeds to repay debt as well as for working capital and general corporate purposes.

eOn Communications has applied to sell its shares on Nasdaq under the symbol ''EONC''(NasdaqSC:EONC - news) once it goes public.

The underwriters, Needham & Co. Inc. and A.G. Edwards & Sons Inc. and WR Hambrecht & Co., have been allotted an extra 300,000 shares in the event of heavy demand.