StorageNetworks, Inc. (STOR) Message Board

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Technology Stocks : StorageNetworks, Inc. (STOR)

STOR 32.21

0.0%

Feb 3 4:00 PM EST

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To: mact who wrote (15)	6/28/2000 6:06:00 PM
From: Glenn Petersen	Read Replies (1) of 187

The range has been bumped to $23 to $25 per share: biz.yahoo.com Wednesday June 28, 11:59 am Eastern Time StorageNetworks IPO range rises to $23-$25 a share WASHINGTON, June 28 (Reuters) - The price range for StorageNetworks Inc.'s (NasdaqNM:STOR - news) initial public offering of nine million common shares rose to $23-$25 a share from $17-$19, the data storage company said on Wednesday. The IPO, tentatively expected to begin trading this week, is being handled by Goldman Sachs, Credit Suisse First Boston, Thomas Weisel Partners and Wit SoundView. The boosted range, disclosed in a Securities and Exchange Commission filing, would increase the proceeds from the offering to about $202 million from $151.3 million. StorageNetworks plans to use the proceeds for general corporate purposes, including working capital and capital expenditures. The Waltham, Mass.-based company has applied for a Nasdaq listing under the symbol STOR.

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