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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (842)	2/23/2000 1:29:00 PM
From: Mohan Marette	Read Replies (2) \| Respond to of 1471

OT The Ravi brothers & Co (SonicWall) file to sell 3.5 mil shares. Nasdaq:SNWL SonicWALL, shareholders file to sell 3.5 mln shrs WASHINGTON, Feb 23 (Reuters) - SonicWALL Inc. (NasdaqNM:SNWL - news) and some of the Internet security firm's shareholders filed on Wednesday to offer a total of 3.5 million common shares. The Sunnyvale, Calif., company is selling 1.75 million shares while its stockholders, who include Chief Executive Officer Sreekanth Ravi and Chief Technical Officer Sudhakar Ravi, are selling the other 1.75 million shares. SonicWALL plans to use the net proceeds from the shares it sells for general corporate purposes to support growth, working capital and potential acquisitions of products and technologies. It said it will not receive any of the proceeds from the shares sold by the shareholders, according to a filing with the Securities and Exchange Commission. If there were heavy demand for the 3.5 million shares, an underwriting group that includes Bear Stearns, J.P. Morgan and Chase H&Q would have an option to buy 525,000 more shares. There would be about 25.4 million common shares of SonicWALL outstanding after the offering. The company's shares were down 1-1/8 to 85-5/8 in morning Nasdaq trading.