To: LWolf who wrote (87 ) 3/24/1999 12:42:00 PM From: opey Respond to of 438
Read the following, and tell me that this company will not be worth a hell of a lot more than $75 a share in a short while.......... WASHINGTON, March 22 (Reuters) - MiningCo.com Inc., an Internet news, information and entertainment service, said Monday it will sell up to three million common shares in its first-ever sale of stock to the public. In an amended initial public offering filed with the Securities and Exchange Commission, the New York City-based company estimated the initial selling price will be between $23 and $25 per share. Previously, the company had not disclosed the amount of stock to be offered nor the estimated initial price. At the same time as the offering, the company will sell shares of common to Comcast Interactive Investments for $2.5 million at a price per share equal to 93 percent of the initial public offering price. Since these shares will be sold in a private placement, Comcast will not be able to immediately resell the shares in the public market. The underwriters may purchase up to 450,000 additional common shares. The offering will be made through Bear, Stearns & Co. Inc., Volpe Brown Whelan & Co. and Wit Capital Corp. as E-Manager-TM. After the offering and the private placement sale, outstanding common will total 11,586,894 shares. Net proceeds will be used to execute its business plan, including increasing its sales and marketing efforts and hire additional internal advertising sales personnel. Proceeds will also be used to fund capital expenditures. ((Washington newsroom, 202 898-8399 Fax: 202 347-3853, washington.equities.newsroom@reuters.com)) REUTERS Rtr 15:00 03-22-99 Copyright 1999, Reuters News Service. All rights reserved. Replication or redistribution of Reuter's content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. © Copyright 1999, The Nasdaq Stock Market, Inc. All Rights Reserved. Please read our Disclaimer, Trademarks, and Privacy Statement.