New underwriter for NETsilicon
Underwriter(s): CIBC World Market and U.S. Bancorp Piper Jaffray
(love the timing on this one, long weekend, let the shorts sweat a few days!!!)
newsalert.com
Osicom's NETsilicon Boosts IPO Size To 3M Shares, Lowers Range
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(NewsTraders.com)-- NETsilicon Inc., currently a subsidiary of Osicom Technologies Inc. (FIBR), has again reworked the terms of its pending IPO and now plans to sell even more shares at a lower price.
The company now hopes to sell 3 million common shares at $8 to $10 a share, with Osicom kicking-in an additional 2 million shares, for a total of 5 million shares being offered to the public.
NETsilicon previously anticipated selling 2.3 million common shares, at between $10 and $12 each, with Osicom offering 0.7 million shares.
Prior to that, NETsilicon had expected to offer 2 million shares, in the $12-to-$14 range, with Osicom offering an additional 1 million shares.
According to today's amended regulatory filing, Osicom will own a 61.5% stake in NETsilicon following the offering.
Based in Waltham, Mass., NETsilicon develops and markets products enabling the connection of electronic devices to networks.
IPO Expectations:
Price per share: $8 to $10
Shares being offered: 3,000,000 by the company and 2,000,000 by selling holder Osicom
Shares to be outstanding: 13,000,000
Company location: Waltham, Mass.
Exchange/Symbol: Nasdaq/NSIL
Underwriter(s): CIBC World Market and U.S. Bancorp Piper Jaffra |
