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Message Boards | Communications : NETsilicon IPO (FIBR spin-off) -- Ignore unavailable to you. Want to Upgrade?

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To: Brian who wrote (13)7/2/1999 4:36:00 PM
From: Brian of 24
 
http://www.newsalert.com/bin/story?StoryId=Cn3W5qdKbmJe1mJ&FQ=osicom&SymHdl=1&Nav=na-search-&StoryTitle=osicom

Osicom's NETsilicon Boosts IPO Size To 3M Shares, Lowers Range

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(NewsTraders.com)-- NETsilicon Inc., currently a subsidiary of Osicom Technologies Inc. (FIBR), has again reworked the terms of its pending IPO and now plans to sell even more shares at a lower price.

The company now hopes to sell 3 million common shares at $8 to $10 a share, with Osicom kicking-in an additional 2 million shares, for a total of 5 million shares being offered to the public.

NETsilicon previously anticipated selling 2.3 million common shares, at between $10 and $12 each, with Osicom offering 0.7 million shares.

Prior to that, NETsilicon had expected to offer 2 million shares, in the $12-to-$14 range, with Osicom offering an additional 1 million shares.

According to today's amended regulatory filing, Osicom will own a 61.5% stake in NETsilicon following the offering.

Based in Waltham, Mass., NETsilicon develops and markets products enabling the connection of electronic devices to networks.

IPO Expectations:

Price per share: $8 to $10

Shares being offered: 3,000,000 by the company and 2,000,000 by selling holder Osicom

Shares to be outstanding: 13,000,000

Company location: Waltham, Mass.

Exchange/Symbol: Nasdaq/NSIL

Underwriter(s): CIBC World Market and U.S. Bancorp Piper Jaffray
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