| An SI Board Since January 2000 |
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MatrixOne sets IPO at 5 mln shares, $12-$14/shr
WASHINGTON, Jan 21 (Reuters) - MatrixOne Inc., provider of Internet business collaboration software, said on Friday it plans to sell five million shares in a projected price range of $12-$14 a share in its initial public offering.
The Chelmsford, Mass.-based company said it expects to net about $59.5 million from the IPO to be used for general corporate purposes including working capital and possibly acquisitions, according to an amended prospectus filed with the Securities and Exchange Commission.
MatrixOne said its products serve as an Internet platform to facilitate the collaboration among different departments and geographic locations of global organizations.
After the offering there will be about 37.7 million shares outstanding in the company, putting its initial market capitalization at approximately $490.1 million based on a $13 per share initial price.
The underwriters, Goldman, Sachs & Co., Dain Rauscher Wessels, SoundView Technology Group and U.S. Bancorp Piper Jaffray, have been granted the right to purchase an extra 750,000 shares in the event of heavy demand.
The company has applied to sell its stock on Nasdaq under the symbol ``MONE' (NasdaqSC:MONE - news) once MatrixOne goes public.
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