AppliedTheory Corporation Announces Initial Public Offering of 4,500,000 Common Shares at $16 Per Share
GREAT NECK, N.Y., April 30 /PRNewswire/ -- AppliedTheory Corporation (Nasdaq: ATHY - news) announced today the completion of its initial public offering of 4,500,000 shares of common stock at a price of $16 per share. The common stock is listed on the Nasdaq National Market under the symbol ''ATHY.'' The Company has also granted the underwriters of the public offering an option to purchase up to an additional 675,000 shares of its common stock to cover over-allotment. Bear, Stearns & Co. Inc. acted as lead manager for the offering. Co-managers include CIBC World Markets and Lehman Brothers, and Wit Capital Corporation as e-Manager(TM).
AppliedTheory is a leading provider of one-stop Internet solutions to mid- sized businesses, mid-sized departments of larger businesses and public sector institutions. We offer an extensive array of high-performance, reliable and scalable Internet technology products and services. AppliedTheory offers the following products and services, either individually or as part of a complete package: Internet integration and enterprise portal development, including custom software application development, Web site design and development and upgrading of systems and databases designed before the emergence of the Internet; Web hosting, consisting of custom hosting solutions and outsourcing, shared server, dedicated server and co-location hosting solutions; and Internet connectivity, including virtual private network (VPN) solutions, network and security consulting and dedicated Internet access.
A prospectus describing the offering may be obtained from Bear, Stearns & Co. Inc., 245 Park Avenue, New York, New York, 10167.
AppliedTheory is headquartered in Great Neck, New York. For more information, access our Web site at www.appliedtheory.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the offered shares, nor shall there be any sale of the offered shares in any State in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such State.
SOURCE: AppliedTheory Corporation
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