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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: fumble who wrote (13161)	9/1/1999 11:07:00 AM
From: pat mudge	Respond to of 18016

NN will sell in JNPR offering: September 01, 1999 10:20 Juniper Files For Secondary Offering Of 5M Common Shares (JNPR) (NewsTraders.com)-- Juniper Networks Inc. (JNPR), whose shares have skyrocketed since its late-June IPO, filed with the SEC today for a secondary offering of 5 million common shares. Of such amount, the company plans to offer 1.5 million shares, with the remaining 3.5 million shares coming from four selling holders, according to a Form S-1 document. The selling holders include Lucent Technologies (LU) and Newbridge Networks (NN), which are each offering about 1.5 million shares, and an affiliate of MCI WorldCom (WCOM), which is putting nearly 0.3 million shares up for grabs. After the offering, Lucent and Newbridge will each hold more than 0.2 million shares of Newbridge, while MCI WorldCom will retain about 1 million shares, or a 2.0% stake. The final selling holder, Anshutz Family Investment Co. LLC, plans to sell 0.2 million shares, trimming its holdings in Juniper to nearly 0.4 million shares. Juniper, which will receive no proceeds from the shares sold by the holders, did not estimate the net proceeds it will reap from its sale of 1.5 million shares, but did say it will use such funds for general corporate purposes, principally working capital and capital expenditures. After the offering, which has a proposed maximum price of about $1.20 billion, the Mountain View, Calif.-based company will have nearly 51.3 million common shares outstanding. Underwriters are being led by Goldman Sachs Co., and include CS First Boston, BancBoston Robertson Stephens, Dain Rauscher Wessels, SG Cowen and Warburg Dillon Read. Shares of Juniper, a provider of Internet infrastructure solutions, were recently trading higher by $0.25 at $205.25.