General Magic Inc, the Sunnyvale developer of object-oriented operating software for handheld computer-communicators that has up to now raised its money from corporate investor-partners such as Apple Computer Inc, AT&T Corp and Sony Corp, has filed with the US Securities & Exchange Commission to go public with an offer of 4.0m shares, all new, at an expected price of $13.00 a share; of the shares, 3m will be sold in the US and 1m internationally. Goldman, Sachs & Co, Alex Brown & Sons Inc and Smith Barney Inc manage the US offering, and their international arms manage the rest of the world.
P-Com Inc, Campbell, California developer and manufacturer of short-haul millimetre wave radio systems for use in the worldwide wireless telecommunications market has filed to go public with an initial offering of 1.7m shares, all new, at a target price of $10 to $12 a share. The company did not disclose its plans for the $1.6m or so net proceeds. The underwriters for the offering will be Robertson, Stephens & Co LP and PaineWebber Inc.
