Well,, CPQ should have the bottom line expanded by THEIR investments LOL!
Data storage co. Vixel sets terms of IPO
WASHINGTON, Aug 16 (Reuters) - Vixel Corp., whose software products and services allow
data storage devices to connect to one or more computer systems allowing for high-speed data
exchange, said Monday it planned to offer 3.7 million common shares in an initial public offering.
The shares may be priced in the $10-12 per share and trade on Nasdaq under the symbol
(Nasdaq:VIXL - news), Vixel, based in Bothell, Wash., said in a Securities and Exchange
Commission filing.
Estimated net proceeds of $37 million will be used to repay a $2 million promissory note, for general corporate purposes
and repayment of other debt, said Vixel, whose solutions are used in storage area networks, designed to interconnect
computer systems and data storage devices.
If there is heavy demand for the shares, then underwriters BancBoston Robertson Stephens, Bear Stearns and Needham &
Co. have an over-allotment option on 555,000 more shares.
Vixel primarily markets and sells to original equipment manufacturers, or OEMs, which are companies that combine their
own products with someone else's and the sells the combination under the OEM's brands. It also sells to resellers.
Sun Microsystems Inc. (Nasdaq:SUNW - news), Compaq Computer Corp. (NYSE:CPQ - news) and Hewlett-Packard Co.
(NYSE:HWP - news) accounted for 34.4 percent, 19.8 percent and 11.8 percent, respectively, of Vixel's total revenue for
the first six months ended July 4, the filing said. |
