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I believe their IPO is set for early September, around $12/share, symbol "SURF"
The following announced today!
SAN DIEGO, Aug. 16 /PRNewswire/ -- Rep. Thomas J. Bliley (R-Va.) and Sen. Larry Pressler (R-S.D.), the chief architects of major telecom reform legislation, were among the first callers on NextWave Telecom Inc.'s Personal Communications Service (PCS) system on Tuesday in San Diego. Other inaugural calls were placed by Rep. Brian P. Bilbray (R-Calif.) and Valerie Stallings, Deputy Mayor of San Diego. These inaugural calls represent the first made on the so-called "C-Block" spectrum set aside for entrepreneurs.
NextWave unveiled its PCS system, which is based on the advanced Code Division Multiple Access (CDMA) digital standard, just three months after the company's successful participation in an FCC-sponsored auction reserved for small businesses and entrepreneurs. The demonstration system is being operated under a temporary license from the FCC. NextWave won 63 PCS licenses through the auction process. Those licenses cover 29 of the top 50 markets in the U.S. and represent more than 40% of the population. NextWave's license applications are pending before the FCC.
Rep. Bliley, who serves as Chairman of the House Commerce Committee, complemented NextWave for its rapid development and deployment of an advanced wireless system that will offer customers more choice in the marketplace. "You are involved in the cutting edge of technology and in creating more competition in the industry," Rep. Bliley said. "This is exactly what we envisioned when we introduced, labored over, and signed into law the first major change in telecom law, since Marconi was alive," he said. He added that the Telecommunications Act of 1996 was aimed at letting "the entrepreneurial genius of America compete."
"What we are doing here is celebrating the beginning of the digital age," said Sen. Pressler, who also serves as Chairman of the Senate Commerce, Science and Transportation Committee. He said the coming "Wireless Age" will help bridge the gap between rural and urban communities, and wireless networks will make it possible for schools and hospitals in small towns and big cities to share information.
NextWave's San Diego PCS network provided coverage for most of downtown, the marina area, and Coronada Island, incorporating an area of more than 110 square kilometers. The CDMA-based PCS phones and network equipment were provided by QUALCOMM, Inc., a San Diego-based wireless equipment manufacturer. The handsets offer clearer voice quality and better reception with less background noise than typical analog units.
In making some of the first calls on NextWave's PCS system, Rep. Bliley called FCC Commissioner Rachelle B. Chong in Washington, D.C. Sen. Pressler called his mother in Sioux Falls, S.D., and Deputy Mayor Stallings called her mother in Fort Lauderdale, Fla.
Dr. Irwin Jacobs, Chairman and Chief Executive Officer of QUALCOMM, made a mobile-to-mobile call, using one of NextWave's CDMA-based PCS phones to connect with an executive using a CDMA-based cellular phone at BC TEL in Vancouver, Canada.
NextWave Telecom Inc., which was founded in May 1995, is the parent company of NextWave Personal Communications Inc. (PCI), NextWave Wireless Inc. and TELE*code Inc. NextWave PCI is the holding company for the PCS licenses NextWave won at auction. NextWave Wireless was formed to act as an operating company and plans to construct facilities and provide wholesale PCS in conjunction with its strategic partners. TELE*code was formed to provide CDMA-based products and engineering services. NextWave is a privately held corporation with headquarters in San Diego and offices in Los Angeles, New York, Washington, D.C., Boston, Dallas, Philadelphia, and Seoul, Korea.
For more information, please call Jennifer Walsh, Director of Industry Affairs, at 202-371-2275.
SOURCE NextWave Telecom Inc.
CO: NextWave Telecom Inc.; NextWave Personal Communications Inc.
ST: California, District of Columbia
IN: TLS
SU: PDT
08/16/96 09:51 EDT prnewswire.com |
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