Internet service provider MindSpring Enterprises Inc has filed with the Securities and Exchange Commission for a public offering of up to 2.3 million shares of common stock. All of the shares will be issued by the company. Of that total, 300,000 shares would be to cover over-allotments. At the proposed offering price of $59.50, and assuming the take up of over-allotments, the sale would net the company $129.5m after fees. It will use the proceeds of the offering to expand its business through acquisitions of subscriber accounts and complementary businesses or technologies, as well as for working capital and general corporate purposes. After the offering, MindSpring will have 27.97 million shares outstanding. The offering is being managed by ING Baring Furman Selz LLC, Donaldson, Lufkin & Jenrette Securities Corp, JC Bradford & Co, Wheat First Inc, and Jefferies & Company Inc, and currently is expected to be completed in December.
