New Era of Networks Inc, the Englewood, Colorado-based applications integrator, has filed with the Securities and Exchange Commission to offer a further four million shares of its common stock. The newly issued shares represent 16% of the company’s currently outstanding share capital. An option to purchase a further 600,000 shares has been granted to the underwriters to cover over allotments. NEON said the funds raised (up to $260m before costs) could potentially be applied to the acquisition of complementary businesses and products. In its last quarter through September, NEON tripled revenues to $17m while net losses quadrupled to $12m. Lead manager for the offering will be Credit Suisse First Boston.
