The wrong company.
I wonder if any of today's buyers thought they were getting in on this instead? I can't explain the larger volume any other way, although I hope that something big is finally going to happen. Remember that Sonic Wall used to be called Sonic Systems.
Friday October 1, 6:09 pm Eastern Time
SonicWALL sets IPO at 4 mln shares, $10-$12/shr
WASHINGTON, Oct 1 (Reuters) - SonicWALL Inc. filed Friday to sell four million shares in a projected range of $10-$12 per share, a Securities and Exchange Commission filing said.
The company, based in Santa Clara, Calif., designs products that provide secure Internet access to its broadband customers who are mainly small to medium enterprises with fewer than 1,000 employees, branch offices or telecommuters.
The connection for the customers using broadband are able to access the Internet at speeds much faster than traditional analog modems.
The company expects to reap $39.9 million from the IPO and use the proceeds for working capital and to fund its operations, including expanding sales and marketing operations as well as product offerings, the filing said.
The underwriters, Bear, Stearns & Co. Inc., Hambrecht & Quist and Thomas Weisel Partners, have been allotted 600,000 shares in case of heavy demand.
SonicWALL plans to sell its shares on Nasdaq under the symbol ''SNWL.''
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