Missed FATB this time 2 but getting rich off VOCL, which I loaded up on at the bottom recently and have been telling folks to buy for the ITXC IPO which will EXPLODE off the NTOP run, and VOCL will own 20% of ITXC post-IPO, Intel will own about 11%.....management from ITXC from AT&T & Micrososft....I know you laughed at ITXC revenues when I told U about it (said it was less than your portfolio), well you won't be laughing when it gets assigned a $1,000,000,000
(yeah, that's $1 BILLION) market cap....even at IPO price will be $500,000,000 market cap....VOCL owns 20% of that !!!!
Itxc Rings In With IPO Details, Plans 6.25M Shares At $11 To $13
Newstraders - August 31, 1999 15:29
(NewsTraders.com)-- Itxc Corp., a provider of Internet-based fax and voice services, revealed that it plans
to offer 6.25 million common shares, at between $11 and $13 each, in its pending initial public offering.
The previous filing, released Aug. 11, did not disclose the terms of the deal.
Net proceeds from the offering are expected to be $68.2 million, which Itxc said it would use to expand its
network and improve technology, expand sales and marketing and repay debt.
The IPO, which amounts to an 18% stake in the company, provides Itxc a potential market value of about
$418 million, based on shares to be outstanding and the $12 mid-point.
Itxc currently places the ultimate price of the offering at $93.4 million, according to an amended regulatory
document released yesterday.
Of note, Israeli IP telephony company VocalTec Communications Ltd. (VOCL) has a 19.5% stake in Itxc,
while chip behemoth Intel Corp. (INTC) has an 11.6% stake.
Located in Princeton, N.J., Itxc also has an address in cyberspace, www.itxc.com.
IPO Expectations:
Price per share: $11-to-$13
Shares being offered: 6,250,000
Shares to be outstanding: 34,795,632
Company location: Princeton, N.J.
Exchange/Symbol: Nasdaq/ITXC
Underwriter(s): Lehman Brothers; CIBC World Markets; First Analysis Securities Corp.
Copyright 1999 NewsTraders Inc. All Rights Reserved 15:39 Tuesday, August 31, 1999 |
