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To: Zoro who wrote (5598)2/15/2001 8:11:42 PM
From: max power  Read Replies (1) | Respond to of 8686
 
the question is just what will the ipo do tomorrow.....

Riverstone prices at $12 per share, middle of range
NEW YORK, Feb 15 (Reuters) - Shares of Riverstone Networks Inc (NasdaqNM:RSTN - news), the routers and Web switches unit of Internet equipment maker Cabletron Systems Inc (NYSE:CS - news), were priced at $12 per share in an initial public offering on Thursday, at the middle of its adjusted range.

The Santa Clara, Calif.-based company raised $120 million by selling 10 million shares.

The estimated price range was lowered on Jan. 29 to $11-$13 a share from $12-$14 a share in an amended prospectus filed with the Securities and Exchange Commission.

The company plans to use the proceeds for working capital and general corporate purposes.

Morgan Stanley Dean Witter served as lead underwriters for Riverstone, which will trade under the symbol ``RSTN'' starting on Friday.