|Moderated By: westpacific -- (Not Moderated) -- Started: 12/6/1999 1:20:00 AM Revision History|
Friday November 19, 12:09 pm Eastern Time
OnDisplay sets IPO at 3.5 mln shares, $11-$13/shr
WASHINGTON, Nov 19 (Reuters) - OnDisplay Inc. plans to offer 3.5 million shares in a projected price range of $11-$13 per share in its initial public offering, according to a Securities and Exchange Commission filing.
The company, based in San Ramon, Calif., helps e-business portals and e-marketplaces collect, exchange, integrate, personalize and syndicate information and services with its primary product CenterStage.
OnDisplay said it plans to use the net proceeds from the IPO, an estimated $38.9 million based on a $12 per share initial price, for general corporate purposes, including working capital, boosting sales and marketing operations, product development and international expansion.
After the offering there would be about 18.9 million shares outstanding in the company, according to the amended prospectus filed late on Thursday. That would give OnDisplay an initial market value of about $226.8 million based on a $12 per share initial price.
The underwriters, Robertson Stephens, Deutsche Banc Alex. Brown and SG Cowen, have been allotted 525,000 extra shares to purchase in the event of heavy demand.
The company has applied to sell its shares on Nasdaq under the symbol (NasdaqSC:ONDS - news).
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