STOR cuts offering to 6 million shares and sets the price at $34 per share:
biz.yahoo.com
Tuesday November 21, 9:07 am Eastern Time
Press Release
StorageNetworks Announces Pricing of Public Offering of Common Stock
WALTHAM, Mass.--(BUSINESS WIRE)--Nov. 21, 2000--StorageNetworks, Inc. (NASDAQ:STOR - news), the Storage Services Provider (SSP) for the e-Economy, today announced the pricing of its offering of 6,000,000 shares of common stock at $34.00 per share. Of the 6,000,0000 shares offered, 3,600,000 shares were offered by the company and 2,400,000 shares were offered by certain selling stockholders. The company has granted the underwriters a 30-day option to purchase up to 900,000 additional company shares of common stock to cover over-allotments, if any. The offering is being lead managed by Goldman, Sachs & Co. and co-managed by Chase H&Q, Merrill Lynch & Co., Salomon Smith Barney and Thomas Weisel Partners LLC.
A copy of the prospectus relating to the offering and meeting the requirements of the Securities Act of 1933 may be obtained from Goldman, Sachs & Co., Prospectus Department, 85 Broad Street, New York, New York 10004.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Contact:
StorageNetworks, Inc.
Nicole Gorman
Director, Corporate Communications
781/434-6716
nicole.gorman@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781/434-6373
erica.smith@storagenetworks.com
or
Schwartz Communications
Barry Mason
781/684-0770
jmaglitta@schwartz-pr.com |
