Actel Inc, Sunnyvale, California blames unfavourable market conditions, an odd scapegoat when everything high-tech is sweeping off the shelves, for the postponement of its proposed public offering of shares. The designer of field programmable gate arrays and related tools had filed a registration statement to offer 4.7m shares, with Actel offering 2.1m, Texas Instruments Inc the balance.
MAI Systems Corp, Irvine, California vertical market turnkey systems integrator, has filed with the US Securities & Exchange Commission to offer 1.99m shares controlled by Bennett LeBow, a former director of the company, who resigned from the board on October 17. LeBow was the man that launched the MAI bid for Prime Computer Inc that led that company to be ravaged in a defensive leveraged buyout.
Objective Systems Integrators Inc, integrating object-oriented systems in Folsom, California, got its offering of 5.5m shares – raised from 4m, of which 2m were to be from the company – away at $19 a share, compared with an initial target of $12 to $14 a share, later raised to $15 to $17. Lead underwriter for the issue was Morgan Stanley & Co.
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