NENG priced at $17 per share:
biz.yahoo.com
Wednesday July 12, 7:52 pm Eastern Time
Network Engines Inc. prices IPO at $17, top of range
NEW YORK, July 12 (Reuters) - Web server appliances manufacturer Network Engines Inc. (NasdaqNM:NENG - news),
which made a last-minute change to its pricing expectations and the number of shares it would sell, priced 6.5 million shares at
$17 on Wednesday night, at the top of its revised range.
The Canton, Mass.-based company raised a total of $110.5 million in its initial public offering. Earlier in the day, the company
changed its price range to $16-$17 per share from $13-$15 per share, and boosted the amount of shares it would sell to the
public to 6.5 million from 5.5 million.
Lead underwriters Donaldson, Lufkin & Jenrette declined to comment on the reason for the changes.
The company, which will trade on the Nasdaq exchange under the symbol ``NENG,'' plans to use the proceeds for potential acquisitions of businesses, technologies,
or products, additional working capital and general corporate purposes. |
