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Technology Stocks : HarvardNET Inc - (HNET)

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To: LarryCPA who wrote (8)9/13/1999 4:27:00 PM
From: Mohan Marette   of 10
 
HarvardNET asks SEC to withdraw its IPO filing

WASHINGTON, Sept 13 (Reuters) - High-speed Internet access and telecommuting network services provider HarvardNET Inc. on Monday asked regulators to withdraw its plans for an initial public offering.

The company filed with the U.S. Securities and Exchange Commission asking the regulatory agency to withdraw the initial public offering filing it first made in June.

The Boston-based company had planned to receive some $114 million in net proceeds by offering 8.9 million common shares in a projected price range of $13-15 per share, according to a recent SEC prospectus.

``HarvardNET Inc. no longer intends to sell the common stock registered thereby,' it said in the withdrawal request.

HarvardNET, which had been approved to trade its shares on Nasdaq under the symbol HVNT, did not immediately return a telephone call seeking comment.

biz.yahoo.com
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