Colonial Data Technologies Corp, the calling number identification display and other telecommunications equipment developer of New Milford, Connectticut, got its offer of 3.2m shares, 2.4m new, away at $7.375 per share. The $16m or so net raised will be used to support growth of its leasing programme and for working capital. Underwriters are First Albany Corp and Pennsylvania Merchants Group.Micro Linear Corp, San Jose developer of mixed signal and analogue circuits for communications, computer and industrial applications, got its initial public offering of 3.3m shares, 1.65m of them new, away at $8.50 per share, and will use the $13m or so net proceeds for working capital and to buy capital equipment. The offering was managed by an underwriting group managed by Robertson, Stephens & Co Ltd Partnership and Montgomery Securities Inc.
