Datametrics Corp, Woodland Hills, California developer of high-speed colour printers and ruggediser of computers, has filed with the US Securities & Exchange Commission to offer 2m new shares; no word on its plans for the $16m or so indicated net proceeds. The managing underwriters are to be Pennsylvania Merchant Group Ltd and Cruttenden Roth Inc.
Integrated Device Technology Inc, Santa Clara microprocessor and specialised memory chip maker, has firmed up details of its offering of $150m of convertible subordinated notes due 2002. It intends to use the proceeds to equip its new wafer fabrication facility in Hillsboro, Oregon, and to construct and equip a new assembly and test facility in the Philippines, expansion of capacity, and the acquisition of capital equipment. The underwriters for the offering will be Lehman Brothers Inc, Montgomery Securities and Smith Barney Inc.
Microcom Inc, Norwood, Massachusetts networking protocols and software developer, has filed with the US Securities & Exchange Commission to offer 3.2m common shares, 3m new. Net proceeds of at least $26.7m will be used to repay debt and for working capital. Underwriters are Dillon, Read & Co Inc, Prudential Securities Inc and Needham & Co.
Proginet Corp, Uniondale, New York developer of local network to mainframe communications software, got its initial public offering of 1.8m shares in Canada away at $Can1.35, raising about $1.6m for the company for development and marketing of its new generation of software. The offering was managed by Golden Capital Securities Ltd, Vancouver.
Baan Co NV, Dutch manufacturing software specialist, got its initial public offer of 6.4m shares, 4m of them new, away at $16 per share, raising some $60m net for working capital. Underwiters for the issue were led by Goldman Sachs & Co, Morgan Stanley & Co Inc, Cowen & Co and UBS Securities Inc.
