Actually before...
Then repeated at 12:15p. I suspect it helped our run-up today.
Here's the Bloomberg article:
<<FlashNet Increases Size of IPO Scheduled for Later Today
Bloomberg News
March 15, 1999, 8:39 a.m. PT
FlashNet Increases Size of IPO Scheduled for Later Today
Forth Worth, Texas, March 15 (Bloomberg) -- FlashNet
Communications Inc., an Internet service provider, increased the
size and price of the initial public stock sale it plans later
today.
The Forth Worth, Texas-based company now plans to sell 3.2
million shares at $14 to $15 a share to raise about $46.4
million, according to a filing with the U.S. Securities and
Exchange Commission. That's 19 percent more than it planned
earlier with 3 million shares at $12 to $14 each.
Increasing the number of shares to be sold, and their
expected price, indicates heightened demand on the part of the
institutional investors who generally comprise the bulk of
purchasers in an initial stock sale.
FlashNet, which says it has about 180,000 customers,
including about 3,000 businesses, lost $13 million on revenue of
$26.9 million last year. It lost $11.7 million on revenue of
$17.5 million in 1997.
FlashNet will trade under the symbol ''FLAS'' on the Nasdaq
Stock Market. BancBoston Robertson Stephens is leading
underwriters in the sale, with assistance from J.C. Bradford &
Co. and EVEREN Securities Inc.>> |
