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Technology Stocks : Juno.Com - Very Intresting Internet Co. -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Carli who wrote (3)	4/23/1999 1:07:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 13

Juno Online to offer 6.6 mln shares in $97 mln IPO Friday April 23, 12:44 pm Eastern Time Juno Online to offer 6.5 mln shares in $97 mln IPO WASHINGTON, April 23 (Reuters) - Internet services provider Juno Online Services Inc. said Friday it plans to raise over $97 million by offering 6.5 million common shares, or 19 percent, in an initial public offering. Juno, whose services include basic dialup Internet e-mail and full web access, estimated that the shares may trade in the $11-$13 per share range, according to an amended filing with the Securities and Exchange Commission, which included more details of the IPO than the original filing on March 5. Underwriters Salomon Smith Barney, Bear Stearns and PaineWebber have been granted an option to buy 975,000 additional shares if there is heavy investor demand. New York City-based Juno plans to use the $71.5 million in estimated net proceeds for subscriber acquisition, advertising, brand marketing, continued investment in the development of its Internet services and enhancements to the network infrastructure, the filing said. The company may also use proceeds for acquisitions, strategic alliances or joint ventures. It has applied to trade the shares on Nasdaq under the symbol (JWEB - news). Juno had $99 million in accumulated net operating losses as of March 31, 1999. It has incurred $20.9 million in negative cash flows from operations for the year ended December 31, 1998, the filing said. Principal shareholders include Juno's chairman, David Shaw, who will hold 50.1 percent after the offering, and News America Inc., a unit of Rupert Murdoch's News Corp. Ltd. , which will hold 9.1 percent. A seven-member group of executive officers and directors together will hold 53.3 percent after the offering, the filing said. biz.yahoo.com