GDNT sets initial price range at $10 to $12 per share:
biz.yahoo.com
Thursday December 23, 1:38 pm Eastern Time
GoDigital sets IPO at 4 mln shares, $10-$12/share
WASHINGTON, Dec 23 (Reuters) - GoDigital Networks Corp., a provider of long-range digital subscriber line transmission systems, on Thursday said its initial public offering would consist of 4 million common shares.
It said the preliminary pricing range was $10-$12 per share.
At $11 a share, the middle of the pricing range, GoDigital expects net proceeds of $39.4 million, which it will use for general corporate purposes, including working capital, capital expenditures and possible acquisitions.
If there is heavy demand for the shares, which equal a 16.3 percent stake in the company, underwriters led by Credit Suisse First Boston will have an option to buy 600,000 more shares.
GoDigital, based in Fremont, Calif., and located online at godigital.com, has applied to trade the shares on the Nasdaq stock market under the symbol ``GDNT' (NasdaqSC:GDNT - news).
GoDigital disclosed the terms of the IPO in a filing with the Securities and Exchange Commission. It filed a preliminary prospectus in November. |
