Looks like we priced at $20 a share. I'll know tomorrow if I got some. Did well with ITXC (still holding). God Bless Fidelity
<<<NEW YORK, Oct. 27 /PRNewswire/ -- Spanish Broadcasting System, Inc. (Nasdaq: SBSA - news) today announced its initial public offering of 21,787,400 shares of Class A Common Stock at a price of $20 per share.
Of the shares being offered, 17,500,000 shares are being offered by the Company and 4,287,400 shares are being sold by certain selling shareholders. The lead underwriter for the offering is Lehman Brothers with Merrill Lynch & Co. as co-manager. The Company has granted the underwriters an option to purchase up to 3,268,110 additional shares from the Company for the purpose of covering over-allotments, if any.
Copies of the prospectus relating to the offering may be obtained by contacting Lehman Brothers, 385 Greenwich Street, New York, New York 10285, or Merrill Lynch & Co., 250 Vesey Street, World Financial Center, North Tower, New York, New York 10281.
Spanish Broadcasting System, Inc. was founded in 1983 and is the second largest Spanish-language radio broadcasting company in the United States. SBS owns and operates 13 FM radio stations and has agreed to purchase eight additional stations in Puerto Rico. SBS has also entered into a memorandum of understanding to sell two radio stations in the Florida Keys. Eleven of its stations are located in six of the largest Hispanic markets in the United States, including Los Angeles, Puerto Rico, New York, Miami, Chicago and San Antonio. SBS' radio stations reach over 51% of the U.S. Hispanic population.
SOURCE: Spanish Broadcasting System, Inc.
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