Accelerated Networks, Inc. (ACCL) Message Board

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Technology Stocks : Accelerated Networks, Inc. (ACCL)

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To: HiSpeed who wrote ()	6/22/2000 5:02:00 PM
From: Old Stock Collector	Read Replies (1) of 74

Accelerated Networks IPO price up to $11-$13/share WASHINGTON, June 22 (Reuters) - Accelerated Networks Inc. said on Thursday the projected price range for its initial public offering has been raised to $11-$13 per share from $9-$11 per share, raising the projected IPO proceeds about 21 percent. Accelerated Networks, which develops and sells products that enable service providers to offer bundled voice and data services over a single broadband access network, said it would now net $43.2 million based on the sale of 4 million shares under the new terms, up from $35.7 million previously projected. The move to boost the IPO was revealed in an amended prospectus filed with the Securities and Exchange Commission and partly reversed a previous lowering of the projected price range. On June 1 the company lowered its projected price range from $13-$15 per share and net proceeds from $50.6 million. The Moorpark, Calif.-based company has received approval to list its shares on Nasdaq under the symbol ``ACCL'' (NasdaqNM:ACCL - news) once it goes public Credit Suisse First Boston, UBS Warburg LLC and U.S. Bancorp Piper Jaffray are the underwriters.

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