FBR Completes Initial Public offering for Giga Information Group, Inc.; Total Proceeds of $37.5 Million Raised.WASHINGTON--(BUSINESS WIRE)--July 30, 1998--Friedman, Billings, Ramsey & Co., Inc. (NYSE NYSE See: New York Stock Exchange : FBG FBG Fiber Bragg Gratings FBG Fasting Blood Glucose FBG Functional Brain-Gut Research Group FBG Florida Brewer's Guild FBG Fluidized Bed Generator FBG Flavor Blasted Goldfish (gaming) FBG Forum Battle Group ) today acted as lead manager for an initial public offering of 3.0 million shares for Giga Information Group, Inc.(Nasdaq National Market symbol: GIGX) at a price of $12.50 per share. Giga Information Group provides objective analyses and advice relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc developments and trends in the computing, telecommunications and related industries (collectively, the "Information Technology," or "IT" industries) to assist its customers in making technology-related decisions. Friedman Billings Ramsey FBR Group Friedman, Billings, Ramsey Group Inc., or simply FBR, (NYSE:FBR), is a full service investment bank headquartered in Arlington, Virginia that sponsors the FBR Open PGA golf tournament held in Phoenix, Arizona. Group, Inc. is a publicly traded, full-service investment banking and asset management firm (NYSE: FBG). Asset management operations include FBR FBR Friedman, Billings, Ramsey Group, Inc. (investment firm) FBR Fast Breeder Reactor FBR Federal Benefit Rate FBR Foundation for Biomedical Research FBR Foundation for Blood Research FBR Fluidized Bed Reactor Business Development Capital, FBR Asset Investment Corporation, hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" , venture capital and private equity partnerships, and the FBR family of mutual funds. FBR makes a market in more than 375 securities and provides research coverage on more than 400 publiclytraded companies. The Company's website can be accessed at http://www.fbr.com. This announcement is neither an offer to sell nor a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. Any offer is made only by the Prospectus, copies of which can be obtained by contacting Friedman, Billings Ramsey & Co., Inc., Potomac Tower, 1001 19th Street North, Arlington, VA 22209.
CONTACT: Media Relations Contact:
Melanie Nelson, FBR (703) 312-9623
mnelson@fbr.com
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