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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (1077)	11/22/1998 3:32:00 PM
From: Les White	Respond to of 2414

G&L Bank update: For those who are curious about G&L Bank's progress (internet bank for gay community): Management has announced that Stephen's, Inc. will be handling a private placement offering of up to $25 mil. Stephens is an old line and well respected investment house which was awarded the account after competing with several other firms including C.B.I.C. Oppenheimer. The initial offering will be to institutional investors only. G&L Holding Group, Inc. will be taken public after 3 quarters of operation. All of the investment houses in competition for the account recomended the delayed IPO as the best way to go. The bank is on track for a spring launch. Industry and public press has been all positive. Should be an eventful and probably controversial launch. Wall Street realy likes this bank. They've seen the market research, survey's, and emails. Should be a great IPO late 99. Wish it could have been sooner but the big money wants a delayed IPO. The big dogs have to eat first. Les