Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : ESST-the new beginning. -- Ignore unavailable to you. Want to Upgrade?

To: WTSherman who wrote (3311)	2/3/2002 4:29:58 PM
From: SemiBull	Respond to of 3493

Unless there's some absolutely remarkable news about to break its hard to figure out another explanation... I suspect your conclusion is dead on the money. Here's the full press release.... ESS Technology, Inc. Announces Public Offering FREMONT, Calif., Feb. 1 /PRNewswire-FirstCall/ -- ESS Technology, Inc. (Nasdaq: ESST - news) today announced that it has commenced a public offering of 4,800,000 shares of its common stock at a price of $19.38 per share. ESS is selling 2,500,000 shares, while 2,300,000 shares are being sold by selling shareholders. The offering is being managed by Needham & Company, Inc. and co-managed by A.G. Edwards & Sons, Inc., SoundView Technology Group and C.E. Unterberg, Towbin. The selling shareholder has granted the underwriters an option to purchase up to an additional 720,000 shares of common stock to cover over-allotments, if any. Copies of the prospectus relating to this offering may be obtained from Needham & Company, Inc., 445 Park Avenue, New York, NY 10022, 212-371-8300. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. ESS Technology, Inc.'s digital system processor chips drive digital video and audio players, including DVD, video CD and MP3 players. ESS also supplies chips for use in modems and similar communications products, as well as PC audio chips. ESS is headquartered in Fremont, California, and the web site address is esstech.com . SOURCE: ESS Technology, Inc.