Interesting info from the prospectus: 123 mm shrs out -- not incl the 2 mm overallotment! Plus options outstanding.
I now think it will trade at about $40 share on day one. Is this a good deal? could well be. I would buy between 20 and 30 and think i may get the chance.
This Offering
The offering information provided below assumes an initial public offering price of $11.00 per share and includes:
the conversion of $90 million principal amount of our convertible notes into 8,181,682 shares of common stock; and
the sale and issuance to IBM Corporation upon closing of this offering of 4,090,909 shares of common stock in a concurrent offering.
The information provided below excludes:
1,598,500 shares of common stock issuable upon exercise of stock options outstanding as of July 12, 1999 at a weighted average exercise price of
$5.27 per share;
1,605,750 shares of common stock issuable upon exercise of options reserved for grant;
1,636,225 shares of common stock issuable upon exercise of warrants with an exercise price of $11.00 per share related to our outstanding
convertible notes;
200,000 shares of common stock issuable upon exercise of warrants with an exercise price of $10.00 per share related to our revolving credit facility;
approximately 1,136,363 shares of our common stock issuable upon exercise of an option under an agreement related to the acquisition of a partner
company ownership interest; and
the exercise of the underwriters' over-allotment option.
Common stock offered:
U.S. offering
10,850,000 shares
International offering
2,400,000 shares
Total
13,250,000 shares
Shares outstanding after the U.S. and international offerings
123,765,124 shares
Over-allotment option
1,800,000 shares |
