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Technology Stocks : divine interVentures, Inc. (DVIN) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (98)	6/20/2000 11:32:00 PM
From: Glenn Petersen	Read Replies (2) \| Respond to of 246

From today's Chicago Sun Times: Divine interVentures to offer shares soon June 20, 2000 BY HOWARD WOLINSKY BUSINESS REPORTER The much-anticipated public share offering for divine interVentures, the Lisle Internet holding company, has been scheduled for next Monday or Tuesday, according to federal securities filings. Another Chicago tech company, Click Commerce Inc., also is planning its initial public offering next week, sources said. Only one tech company, Coolsavings.com, has gone public here since March, when prices of technology stocks slumped, and the IPO market turned hostile. In recent weeks, however, the market for tech stocks has become substantially more hospitable, and Monday's 129.27 point gain in the Nasdaq brought the index to within 90 points of wiping out all its losses for the year. Divine plans to sell 14.3 million shares at $13 to $15 to raise up to $214 million. Divine, founded by software mogul Andrew J. "Flip" Filipowski, is bucking the trend at a time when many tech start-ups have postponed or withdrawn IPOs. Filipowski recently fired his lead investment bank, Credit Suisse First Boston, which didn't want to take divine public until the fall. But Credit Suisse this week is scheduled to take public Handspring, a competitor to Palm. Robertson Stephens Inc. will lead the divine IPO, which will take place just before the Federal Reserve Bank decides whether to raise interest rates, an event that can affect the stock market. Filipowski, who is on a "road show" now to promote the offering to influential investors, told the Chicago Sun-Times earlier that Robertson Stephens and other affiliated lenders think divine "will stand out as a quality deal in a period of time when there is a lot of uncertainty in the marketplace and only the best of the best companies really should be going public." He said his company is "burning" cash at a rate of $5 million a month and has about $100 million on hand.