I am glad that this stock has finially recovered a bit.
I noticed this story and thought I would bring it to
everyone's attention. I do not know anything about it
or its impact. Anyone have any other info:
09:17 PM ET 03/19/98
Electronic Data Systems unit files IPO
WASHINGTON, March 19 (Reuters) - Unigraphics Solutions Inc.
filed Thursday an initial public offering for an undisclosed
number of class A common stock.
In a filing with the Securities and Exchange Commission,
Unigraphics said some share are being offered initially in the
United States and Canada by U.S. underwriters and some of the
shares are being offered initially outside of those two
countries.
All of the class A shares in the offering are being sold by
the company.
The filing did not disclose an initial public offering
price per class A share.
Underwriters Morgan Stanley Dean Witter; Donaldson, Lufkin
& Jenrette Securities Corp.; Hambrecht & Quist; and J.P. Morgan
& Co. have an over-allotment option on an additional number of
class A common shares.
Unigraphics, a Maryland Heights, Mo., software company,
said it plans to use net proceeds from the offering to repay
outstanding debt.
It has applied to trade the shares on Nasdaq under the
symbol "UGSI."
Prior to the offering Unigraphics is a subsidiary of
Electronic Data Systems Corp.
Upon completion of the offering, EDS will own 100 percent
of the outstanding class B common stock of the company,
representing an undisclosed percentage of the combined voting
power of all classes of voting stock in the company, the filing
said.
As long as EDS beneficially owns a majority of the combined
voting power, it will have the ability to elect all of the
board members of Unigraphics and ultimately to control the
management and affairs of the company, Unigraphics said.
Holders of class A stock generally have rights identical to
those of class B holders except that class A shareholders are
entitled to one vote per share while class B shareholders are
entitled to ten votes per share, the company said.
((Peter Ramjug at SEC newsroom, phone: 202-898-8399 Fax:
202 347-3853, E-Mail washington.equities.newsroom@reuters.com)) |
