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Technology Stocks : JNI Corp. - JNIC -- Ignore unavailable to you. Want to Upgrade?

To: debra vogt who wrote (296)	9/15/2000 5:41:56 PM
From: 2MAR$	Respond to of 325

JNI/Shares -2: Sees $75.2M In Proceeds >JNIC WASHINGTON (Dow Jones)--JNI Corp. (JNIC) filed to sell 1 million shares of common stock, according to a filing Friday with the Securities and Exchange Commission. The company also registered 3.5 million shares, plus 675,000 shares for overallotments, on behalf of certain shareholders. JNI won't receive any proceeds from the sale of shares by the shareholders. JNI expects to receive net proceeds of around $75.2 million from the offering. The company intends to use the proceeds for product development, selling and marketing, acquisitions and working capital. Salomon Smith Barney Inc. will lead manage the underwriting group with Bear, Stearns & Co. and Chase H&Q serving as co-managers. JNI makes fibre channel host bus adapters mainly for SANs. -Todd Goren; Dow Jones Newswires/Federal Filings Business News; 202-628-9782 (END) DOW JONES NEWS 09-15-00 05:50 PM * end of story *