Advanced Radio Telecom (ARTT) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Advanced Radio Telecom (ARTT)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: DubM who wrote (1003)	3/1/2000 8:37:00 PM
From: MangoBoy	of 1176

(http://www.siliconinvestor.com/subject.aspx?subjectid=33709 is the new Triton thread -- mark) WASHINGTON, March 1 (Reuters) - Triton Network Systems Inc., a provider of broadband wireless equipment that enables the delivery of high-speed voice, video and data services, filed on Wednesday for an initial stock offering. The company said it hoped to raise as much as $75 million in the IPO although did not say how many shares it plans to sell or for how much in the preliminary prospectus filed with the Securities and Exchange Commission. Triton Network's products feature technology that allow communications service providers to install more units in a service area than would be possible with other conventional broadband wireless technologies. On Tuesday, the company entered into an agreement with International Business Machines Corp. (NYSE:IBM) to purchase assets and hire about 50 employees associated with IBM's broadband modem product line in exchange for 5.5 million shares of preferred stock. Triton Network plans to use the proceeds from the IPO for general corporate purposes. The company, based in Orlando, Fla. and founded in March 1997, recorded its first revenue in the first quarter of 2000 and posted $30.3 million in net losses in 1999, the filing showed. Lockheed Martin Corp. (NYSE:LMT) holds a 7.8 percent stake in Triton Network, according to the prospectus. The $75 million figure in the IPO filing is merely a basis for calculating the SEC registration fee, the company said. It has applied to trade its shares on Nasdaq under the symbol "TNSI" (NASDAQ:TNSI) once it goes public. The underwriters of the offering include Credit Suisse First Boston, Deutsche Banc Alex. Brown and U.S. Bancorp Piper Jaffray.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next