Powercosm : Gilder ,Huber-Mills , AMSC , IMG ,... CREE ...? Message Board

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Technology Stocks : Powercosm : Gilder ,Huber-Mills , AMSC , IMG ,... CREE ...?

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To: Manx who started this subject	9/4/2000 6:24:21 PM
From: Kathleen capps	Read Replies (2) of 56

Any idea when this IPO will occur? Supposed to be the week of 7 Sept but I haven't heard any news. Wednesday August 16, 5:55 pm Eastern Time Proton Energy sets IPO at 7 mln shares, $10-$12 each WASHINGTON, Aug 16 (Reuters) - Proton Energy Systems Inc., maker of electrochemical products used in producing hydrogen, on Wednesday set its initial public offering at 7 million shares of common stock in a range of $10 to $12 a share. It expects to raise $70.5 million in net proceeds from the IPO, the company said in an amended prospectus filed with the Securities and Exchange Commission. The Rocky Hill, Conn.-based company designs, develops and manufactures electrochemical products for use in devices that produce hydrogen and for storing of energy to be used later for commercial applications. The firm plans to use the net proceeds from the offering for capital expenditures, including working capital, and general corporate purposes. The company has applied to trade its shares on Nasdaq under the symbol ``PRTN'' (Nasdaq:PRTN - news). Its underwriters, Morgan Stanley Dean Witter, Credit Suisse First Boston and Salomon Smith Barney, have been granted the option to buy 1.05 million extra shares in the event all 7 million shares are sold. There will be 32 million shares outstanding in the company once it goes public, giving it an initial market capitalisation of $352 million, based on a $11 per share median price.

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