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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: SMALL FRY who wrote (63889)9/30/1999 12:15:00 AM
From: Susan G  Read Replies (1) of 120523
 
EXTR - anyone holding? Here comes a secondary

Wednesday September 29, 7:27 pm Eastern Time
Extreme Networks to offer 6.5 million shares
SANTA CLARA, Calif., Sept 29 (Reuters) - Network switching company Extreme Networks Inc. (NasdaqNM:EXTR - news) said on Wednesday it had filed with the Securities and Exchange Commission to offer 6.5 million shares of its common stock.

The proposed public offering would include 1.275 million shares sold by the company and 5.225 million to be sold by existing shareholders, Extreme Networks said.

Funds raised from the sale would be used for general corporate purposes, the Santa Clara, Calif.-based company said.

The company said it had granted underwriters Morgan Stanley Dean Witter, BancBoston Robertson Stephens, Dain Rauscher Wessels, Hambrecht & Quist, and SG Cowen an option to buy an additional 975,000 shares to cover any overallotments.

Shares in Extreme Networks rose 31 cents to $66.94 on the Nasdaq trading system on Wedesday.

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More Quotes and News: Extreme Networks Inc (NasdaqNM:EXTR - news)
Related News Categories: US Market News
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