Computer Horizons Corp, Mountain Lakes, New Jersey has filed with the US Securities & Exchange Commission to offer 733,333 shares – 1.1m after giving effect to the three-for-two stock split set for May 30; 683,333 shares are new, the rest coming from co-founder and chairman John Cassese. Janney Montgomery Scott Inc and Robert W Baird Co Inc will be managing the underwriting syndicate for the offer.
HNC Software Inc, San Diego developer of intelligent client-server software using neural network predictive models for mission-critical decision applications in real-time environments such as credit and debit card fraud detection, merchant risk management, retail inventory management and data mining, has filed with the US Securities & Exchange Commission to go public with an initial offer of up to 2.25m shares, 1m of them new, at a target price of $10 to $12 a share to raise $10m of working capital. Morgan Stanley & Co and Robertson, Stephens & Co are leading the underwriting.
Legato Systems Inc, Palo Alto developer of the NetWorker family of client-server back-up and storage management software, has filed to go public with an initial offer of 2m shares, all new, at a target price of $15 to $17 a share. It does not say what the $30m or so net proceeds is for. The underwriters are Robertson, Stephens & Co LP, Hambrecht & Quist LLC, and Punk, Ziegel & Knoell LP.
3D Systems Corp, Valencia, California developer of a stereolithographic system that enables computer-aided design data to be used to carve out prototypes in a process that is much cheaper than traditional modelling procedures, has filed to offer up to 9m shares, 4.5m new, the rest from Ciba-Geigy Ltd, which currently holds 35% of the company.The underwriters for the offering were not named.
S3 Inc, Santa Clara designer, got its offer of 3.5m shares, 3.4m of them new, away at $24.25 per share.Net proceeds will be used for working capital, including potential investments in or advances to foundries to secure additional capacity. The underwriters for the issue were again not named.Hyundai Electronics America Inc is raising $340m with a two-tranche global floating rate note due in 2000. The $170m Tranche A matures in five years, but carries a put and call option after three years. Tranche B also has a five year maturity but has no puts or calls. Both tranches were issued at par and are set to float at 50 basis points over the six-month London Interbank Offered Rate. The funding was arranged by Korea First Finance Ltd.
