Hello Steve:
What is your thought to this new ipo?
Thanks in advance.
Incomep
Thursday March 11, 4:03 pm Eastern Time
Company Press Release
Osicom Technologies, NETsilicon File Amendment to Registration Statement for NETsilicon Initial Public Offering
SANTA MONICA, Calif.--(BUSINESS WIRE)--March 11, 1999--Osicom Technologies Inc. (Nasdaq/NM:FIBR - news) and its wholly owned subsidiary, Waltham, Mass.-based NETsilicon(TM) Inc., Thursday announced that NETsilicon Inc. has filed an amendment to its registration statement with the U.S. Securities and Exchange Commission for an underwritten initial public offering of approximately 3 million shares of NETsilicon common stock, of which Osicom will sell 1 million shares.
Dain Rauscher Wessels will manage the offering, with Tucker Anthony Inc. acting as co-manager.
NETsilicon, Inc. ("NSI", formally Digital Products, Inc)
DIGITAL PRODUCTS, INC. -- In September 1996, the Company acquired Digital
Products, Inc. ("DPI") through a merger with a newly-formed subsidiary DPI
Acquisition Corp. for the Company's common stock valued at $5,000 less agreed
upon merger expenses of DPI and DPI stock option repurchases. 333,680 shares of
common stock and options granted to employees to acquire 46,851 of the Company's
common stock were issued in this transaction. In addition, a new $3,000 line of
credit with a lender provided funds to repay approximately $1,300
owed to the previous lender and provide additional working capital. DPI produces
and markets to original equipment manufacturers of printers, distributors and
end-users a line of multi-function networking products that provide system,
board, and chip level integrated solutions for local area networks and remote
access. The Company incurred additional costs in connection with the acquisition
of DPI of $111, of which $83 was paid through the issuance of common shares;
(See Note J). The acquisition was accounted for as a pooling of interests which
requires the inclusion of the results of operations of DPI for all periods
presented herein. |
