NASC - for those who follow and like DSL companies like COVD.
IPO quiet period should end June 29th. Looking for upgrades. IPO'ed in early June at 12 and has made a nice recovery since the nets crashed. Broke the 12 IPO price on 6/24 and is now trading at 14.
Web Site: nas-corp.com
Network Access Solutions has connections in the East. Using digital subscriber line (DSL) technology, its CuNet (pronounced CopperNet) service provides high-speed connectivity over copper telephone lines leased from Bell Atlantic. The company owns and operates asynchronous transfer mode (ATM)-Frame Relay networks in Baltimore, Boston, New York, Philadelphia, Richmond, Virginia, and Washington, DC, connected by a fiber-optic backbone to form a virtual private WAN. About 50 businesses use CuNet, including AT&T and Cisco. The company also provides network services -- design, installation, management, evaluation, and security -- to more than 400 customers. CEO Jonathan Aust owns 21% of Network Access Solutions.
IPO
INFORMATION
--------------------------------------------------------------------------------
Date went public: June 4, 1999
Filing date: March 19, 1999
Nasdaq: NASC
Proposed offer price:
$14.00 to $16.00
Actual offer price: $12.00
First day open: $12.00
First day close: $12.06
Shares offered (mil.): 7.5
Offering amount (mil.): $90.0
Post-offering shares (mil.): 45.29
Underwriters:
Donaldson, Lufkin & Jenrette Securities Corporation; Bear, Stearns & Co. Inc.; J.P. Morgan & Co.; DLJdirect Inc. |
