XIRCOM ANNOUNCES INITIAL PUBLIC OFFERING
XIRCOM ANNOUNCES INITIAL PUBLIC OFFERING CALABASAS, Calif., March 31 /PRNewswire/ -- Xircom Inc.
(NASDAQ: XIRC) announced today its initial public offering of 3,500,000 shares of common stock at a price of $14 per share. The offering was managed by Morgan Stanley & Co. Inc. and Hambrecht & Quist Inc.
The company offered 2,500,000 shares and selling shareholders offered 1,000,000 shares. In addition, Xircom and certain selling shareholders granted the underwriters an option to purchase up to 525,000 additional shares for covering over-allotments, if any. The company said net proceeds from the offering will be used for working capital and general corporate purposes and to repay outstanding debt. Xircom manufactures easy-to-use networking and connectivity products that extend networks to computer users who previously could not readily connect to local-area networks (LANs). Xircom pioneered the use of the universal PC parallel port to connect portable PCs to a LAN, and has sold more than 150,000 external LAN adapters. Xircom's external LAN adapters also offer a convenient desktop PC connectivity solution, allowing a user to connect to a LAN without having to open the computer to install and configure network adapter cards. Xircom recently expanded its product line by introducing Network Simplicity, which provides in one package all the principal components needed to easily implement a LAN. Copies of the prospectus relating to the offer may be obtained from Morgan Stanley & Co. Inc., 1251 Avenue of the Americas, New York, N.Y. 10020; or Hambrecht & Quist Inc., One Bush St., 18th floor, San Francisco, CA 94104. This news release shall no constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales 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. -0- 3/31/92 /CONTACT: JoAnne F. Martz, director of investor relations of Xircom, 818-878-6220/ (XIRC) CO: Xircom Inc. ST: California IN: CPR SU: OFR
EH-JL -- LA015 -- 3233 03/31/92 08:34 EST
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|Date:||Mar 31, 1992|
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