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Technology Stocks : Novellus
NVLS 2.400+2.1%Jul 24 5:00 PM EST
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To: KM who wrote (1968)3/1/1999 1:46:00 PM
From: Steve Fancy   of 3813
 
From Form 424B5 for NOVELLUS SYSTEMS INC filed on 26 Feb 1999...

We expect delivery of the shares of Common Stock to be made on or about March 2, 1999, against payment in immediately available funds.

I still don't understand this stock offering. First of all, isn't it unusual to price the stock in advance, and second, how will this work? Does it sit there with a 3,860,000 sell order at 67.5?

Thanks to anyone who can shed any light.

sf
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