Any thoughts on the VINA IPO? I see it priced at the lower range and a cut in the number of shares. Doesn't seem very bullish? LDP has been quite a ride from $9, LOL! A nice double if sold yesterday at $18++ Earnings coming up, may see a pull-back soon after a push. Longer term FED should be at an end of the interest rate hikes, so that would be bullish for LDP. Easy gains have been made, but a good holding nonetheless.
biz.yahoo.com
"Thursday August 10, 9:28 am Eastern Time
VINA prices at $12 per share, bottom of IPO range
WASHINGTON, Aug 10 (Reuters) - Telecommunications equipment company VINA Technologies Inc. (NasdaqNM:VINA - news) had 3 million shares priced at $12 each, the bottom of the expected price band for its initial public offering, according to underwriter Lehman Brothers.
Last week, the number of shares was cut to 3 million from 5 million, which forced the company to lop off about $24 million in expected net proceeds to $34.8 million.
The company said it plans to use the proceeds from the deal for general corporate purposes, including working capital and capital expenditures, acquisitions and sales and marketing.
The Newark, Calif.-based company will begin trading on the Nasdaq on Thursday under the symbol (NasdaqNM:VINA - news)."
Morgan |
