Looks like DLJ is having a hard time keeping NXRA even at 9..
DJ Nextera Enterprises -2: Underwriters Led By DLJ
NEW YORK (Dow Jones)--An initial offering of 11.5 million common shares of Nextera Enterprises Inc. (NXRA) was priced at $10 each through underwriters led by Donaldson Lufkin & Jenrette Securities Corp.
The company, which had expected the shares to be offered at $10 to $12 each, raised about $115 million in the deal.
The stock recently traded at 10 1/16, up 1/16 from its offering price, on Nasdaq volume of 9.8 million shares.
Nextera is a Lexington, Mass., consulting firm and a unit of Knowledge Universe, an education company founded by former junk-bond king Michael Milken after his release from prison in 1994.
Gross spread is 68 cents, selling concession is 40 cents and reallowance is 10 cents. Delivery is scheduled for May 21.
- Scott Eden; 201-938-5173
(END) DOW JONES NEWS 05-18-99
10:52 AM
Nextera Enterprises, Inc. Announces Initial Public Offering
LEXINGTON, Mass., May 18 /PRNewswire/ -- Nextera Enterprises, Inc. (Nextera) (Nasdaq: NXRA) today announced the initial public offering of 11,500,000 shares of Class A Common Stock at a price of $10.00 per share. All of the 11,500,000 shares were offered by the company. The common stock will commence trading on the NASDAQ National Market under the symbol "NXRA" on May 18, 1999. Nextera intends to use the net proceeds from the offering primarily for the payment of certain outstanding indebtedness and other fees.
Nextera's initial public offering was lead managed by Donaldson, Lufkin & Jenrette, with Banc of America Securities LLC, BancBoston Robertson Stephens, BT Alex. Brown and Thomas Weisel Partners LLC acting as co-managers. The underwriters have a 30-day option
to purchase up to 1,725,000 additional shares of Class A Common Stock from the company solely to cover over- allotments, if any.
Copies of the prospectus relating to the initial public offering of Nextera's Class A Common Stock may be obtained from Donaldson, Lufkin & Jenrette, 277 Park Avenue, New York, New York 10072 at (212) 892-4525; Banc of America Securities LLC, 600 Montgomery
Street, San Francisco, CA 94111 at (800) 227-4786; BancBoston Robertson Stephens Inc., 555 California Street, Suite 2600, San Francisco, CA 94104 at (415) 781-9700; BT Alex. Brown, 1 South Street, Baltimore, MD 21202 at (410) 727-1700; Thomas Weisel Partners LLC, One Montgomery Street, Suite 3700, San Francisco, CA 94104 at (415) 364-2728; or DLJdirect Inc. through its Web site, located at dljdirect.com.
Nextera provides leading-edge consulting services focused on business strategy, economic analysis, operations improvement, organizational design and information technology primarily to Fortune 500 and other multinational companies and government agencies. 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 offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
/CONTACT: Debra Bergevine of Nextera Enterprises, 781-778-4405/
10:33 EDT |
