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Technology Stocks : NetGravity [NETG]

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To: SteveG who wrote (394)	3/30/1999 9:30:00 AM
From: SteveG	Read Replies (1) of 589

NetGravity Launches Offering Of 4.1M Shares >NETG (priced at $31.5) SAN MATEO, Calif. (Dow Jones)--NetGravity Inc. (NETG) began an offering of 4.1 million common shares and expects net proceeds of $120.5 million. In a press release Tuesday, the company said about 3.2 million shares are being offered by the company for net proceeds of $94.8 million, after various costs. Some 861,560 additional shares are being sold by certain NetGravity shareholders for net proceeds of $25.6 million. The company granted the underwriters an option to purchase an additional 612,000 common shares to cover over-allotments. The underwriting group is managed by BancBoston Robertson Stephens Inc., NationsBanc Montgomery Securities LLC and FAC/Equities, a division of First Albany Corp. NetGravity shares closed Monday up 4 1/4, at 32 1/4. NetGravity provides online advertising and direct marketing services. (END) DOW JONES NEWS 03-30-99 08:16 AM

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