Foundry Networks Files Registration Statement for Initial Public Offering.SUNNYVALE, Calif.--(BUSINESS WIRE)--July 9, 1999-- Foundry Networks(TM), Inc., (proposed Nasdaq National Market symbol:FDRY) announced today that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed initial public offering of $75,000,000 of its common stock (not including an allotment option to be granted to the underwriters). The company will use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the proposed offering for working capital and general corporate purpose. All shares are being sold by the company. The offering is being lead managed by Deutsche Banc Alex. Brown, and co-managed by Merrill Lynch & Co. and J.P. Morgan & Co. Foundry Networks, Inc., headquartered in Sunnyvale, designs, develops, manufacturers and markets a comprehensive suite of high performance networking products for enterprises and Internet service providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. . The company's Gigabit Ethernet Layer 2, Layer 3 and Layer 4-7 switches enable its customers to build and maintain efficient, high performance networks. Some of Foundry's customers include: AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. (NYSE NYSE See: New York Stock Exchange :AOL), MindSpring (Nasdaq:MSPG MSPG Mor Strioch Pian Gar (gaming) MSPG Middle School Parents Group MSPG Material/Military Support Planning Guidance ), LTV LTV See: Loan-to-value ratio Steel (NYSE:LTV) and Incyte Pharmaceuticals (Nasdaq:INCY). A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 such state. Note to Editors: Foundry Networks is a trademark of Foundry Networks, Inc. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion