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Non-Tech : PointCast Network -- Ignore unavailable to you. Want to Upgrade?

To: michael who wrote (43)	5/15/1998 3:24:00 PM
From: Don Dodge	Read Replies (1) \| Respond to of 48

PointCast Files For IPO (05/14/98; 6:11 p.m. ET) By Malcolm Maclachlan, TechInvestor Ending months of speculation, PointCast filed Thursday with the Securities & Exchange Commission for an initial public offering. According to the filing statement, the company will be offering 3.75 million shares between $10 and $12 per share. PointCast is one of the pioneers of push technology, and one of the few companies to survive the push craze. Its technology is used to create networks that bring news and other information directly to user desktops, with content from scores of newspapers and other news sources, including CMPnet. On May 4, PointCast released the newest version of its network, PointCast 2.5. The latest version includes a number of market channels for specific industries, including telecommunications, government, and healthcare. In recent months, the company has been working to cement its place within corporations by offering increased business content, and fixing problems that have clogged corporate networks. PointCast claims 1.2 million registered users, 60 percent of whom connect from the office. The company has long been touted as a hot IPO candidate. Yet CEO Dave Dorman said only two months ago that the company was in no hurry to go public. Like many other Internet start-ups, PointCast has yet to turn a profit. It posted a loss of $29.1 million in 1997, and turned in a loss of $6.4 million for the first three months of this year. There will be over 21.3 million shares outstanding after the IPO. At the proposed offering price, even conservative estimates give PointCast a market capitalization of more than $250 million. Both Dorman and company founder Christopher Hassett will do well in the deal. Dorman will get 2 million shares, more than 10 percent of the company, worth at least $20 million. Hassett will receive more than 1.5 million, worth nine percent, valued at at least $15 million. The offering's underwriters are Lehman Brothers, BT Alex. Brown, and BancAmerica Robertson Stephens.