Friday January 29, 7:32 am Eastern Time
Company Press Release
Tut Systems, Inc. Announces Initial Public
Offering of Common Stock
PLEASANT HILL, Calif.--(BUSINESS WIRE)--Jan. 29, 1999--Tut Systems, Inc (Nasdaq:TUTS -
news) today announced the initial public offering of 2,500,000 shares of its Common Stock at an initial
public offering price of $18 per share.
The company has also granted the underwriters of the public offering an option to purchase up to an
additional 375,000 shares to cover over-allotments.
The initial public offering is being managed by Lehman Brothers, Dain Rauscher Wessels, a division of
Dain Rauscher Incorporated, and Salomon Smith Barney.
Tut Systems designs, develops and markets advanced communications products which enable high-speed
data access over the copper infrastructure of telephone companies, as well as the copper telephone wires
in homes, businesses and other buildings. These products incorporate Tut's proprietary FastCopper
technology in a cost-effective, scalable and easy to deploy solution to exploit the underutilized bandwidth
of copper telephone wires.
The company's products include Expresso high bandwidth access multiplexers, associated modems and
routers, XL Ethernet extension products and integrated network management software. Tut's HomeRun
technology, an in-home application of FastCopper, has been chosen by the Home Phoneline Networking
Alliance (HomePNA) as the initial specification for in-home networking over phonelines. |
