EqualNet Holdings Inc got its initial public offer of 2.1m shares away at $11 per share, raising some $22m net. The Houston, Texas-based long distance telephone reseller had set a target of between $11 and $12 a share; underwriter was J C Bradford & Co.
Performance Systems International Inc has registered with the Securities & Exchange Commission for an initial public offering of 3.3m shares, at a target price of around $7 per share. The Herndon, Virginia Internet service provider will use the $22m or so net proceeds to expand its computer network and its marketing and customer support. Underwriters for the offer will be Montgomery Securities, Cowen & Co and Punk, Ziegel & Knoell.
