Read and you shall understand.
Cisco shareholders plan to sell shares
WASHINGTON, June 4 (Reuters) - Ascend Communications Inc. (Nasdaq:ASND - news) and several other shareholders of Cisco Systems Inc. plan to collectively sell 2,682,295 common shares of Cisco, a federal regulatory filing on Friday said.
Ascend, the computer networking equipment maker, is looking to sell 935,653 Cisco shares, according to the Securities and Exchange Commission filing by Cisco.
Other selling shareholders include Alta California Partners LP, with 323,024 shares, and New Enterprise Associates VII LP, with 320,511 shares.
San Jose, Calif.-based Cisco is the biggest maker of computer networking equipment.
The offering is not underwritten, and Cisco said it will not receive any proceeds from the sale of the shares, which may be sold on a delayed or continuous basis.
The shares were issued by Cisco in connection with its acquisition of Fibex Systems Inc. of Petaluma, Calif., the integrated access equipment maker whose products use the so-called ATM technology, which is one way that information is sent back and forth across computer networks.
Cisco's stock was up 1-3/16 to 110 in early morning trading on the New York Stock Exchange.
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