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Technology Stocks : iBasis, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: sam who wrote (28)	2/10/2000 11:36:00 AM
From: Christine Prokop	Read Replies (1) \| Respond to of 211

Interesting that Dain Rauscher Wessels iniated this as a strong buy on 2/2. They are involved in the secondary. Will this dilute the shares and depress the price? I wonder... Thursday February 10, 8:15 am Eastern Time iBasis files to sell notes, stock NEW YORK, Feb 10 (Reuters) - Internet telecommunications company iBasis Inc. (NasdaqNM:IBAS - news) said on Thursday it filed statements with the U.S. Securities and Exchange Commission for the offering of 3.5 million common shares and $150 million in convertible notes. iBasis said the company will offer 2 million shares in the stock offering, with stockholders selling the rest, at a price to be determined. The company said it plans to grant the underwriters of the stock offering a 30-day option to buy an additional 525,000 shares to cover over-allotments, if any. The company said the notes it will offer will be convertible into common shares at a price to be determined, are due in 2005. The company said it will grant the underwrites of the notes offering a 30-day option to buy an aggregate $22,500,000 principal amount of notes. FleetBoston Robertson Stephens Inc. will be the lead managers of the offerings, with Chase Securities Inc., U.S. Bancorp Piper Jaffray Inc. and Dain Rauscher Inc. acting as co-managers. Shares of iBasis closed at 86-5/8 on Wednesday on the Nasdaq stock market.