ANDN raises the price range to $15 to $18 per share. Raise those bids guys:
biz.yahoo.com
Friday December 3, 8:10 pm Eastern Time
WASHINGTON, Dec 3 (Reuters) - Andover.Net Inc. raised the projected range of the share price for its upcoming initial public offering to $15-$18 a share from $12-$15 per share, a Securities and Exchange Commission filing said on Friday.
A Internet destination for products, online tools and news for Linux and Open Source communities, the company said it plans to use the net proceeds of almost $61 million for general corporate purposes, working capital, expanding sales, marketing, research and development activities as well as redeeming some preferred stock.
The company, which has applied to sell its shares on Nasdaq under the symbol (NasdaqNM:ANDN - news), plans to sell four million shares in the IPO.
WR Hambrecht & Co., Advest Inc and DLJdirect Inc. are the underwriters for the offering and have been allotted an extra 600,000 shares in the event of heavy demand. |
