Hi There S, Yes I saw that and I think that the following is PART of Orckits plan to gear up for it and other things to come. What's the boards take on the offering - For the record I see it as a positive (tho old news). Once again a signal that they are on the Ramp UP :)
Plus the company they keep is not at all bad "The lead manager for the
offering is BT Alex Brown Incorporated. Co-managers are CIBC Oppenheimer
Corp., NationsBank Montgomery Securities LLC, and Salomon Smith Barney."
Orckit Communications Files for Follow-on Offering
TEL AVIV, Israel, May 18 /PRNewswire/ -- Orckit Communications Ltd. (Nasdaq: ORCTF), today announced that it has filed with the securities and Exchange Commission a registration statement relating to a proposed offering of 3,000,000 Ordinary Shares. Of the Ordinary Shares to be offered, 2,000,000 shares will be issued and sold by Orckit Communications, and 1,000,000 shares will be sold by existing shareholders. In addition, the selling shareholders have agreed to grant to the underwriters an option to purchase up to 450,000 additional Ordinary Shares to cover over-allotments, if any, in the sale of the Ordinary Shares. The lead manager for the offering is BT Alex Brown Incorporated. Co-managers are CIBC Oppenheimer Corp., NationsBank Montgomery Securities LLC, and Salomon Smith Barney.
Orckit Communications designs, develops, manufactures and markets digital subscriber line systems that enable telephone companies to cost effectively provide efficient, high speed digital transmission of data, voice and video over the "last mile" of the existing telephone network.
A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction. These securities will be offered only by means of a prospectus.
Copies of the preliminary prospectus may be obtained, when available, from BT Alex Brown Incorporated, 135 East Baltimore Street, Baltimore, MD 21202, CIBC Oppenheimer Corp., Oppenheimer Tower, One World Financial Center, New York, New York 10281, NationsBank Montgomery Securities LLC, 600 Montgomery Street, San Francisco, CA 94111, Salomon Smith Barney, 388 Greenwich Street, New York, New York 10013. |
