Atmel Corp, San Josebased chipmaker, has filed with the Securities & Exchange Commission to go public with an initial offering of 4m new shares at a tar-get price of between $12 and $14 to raise some $50m net for the company. It will have an estimated 15m shares out following the offer, so is looking for the market to put a value of $130m or so on its business. The cash is to be used for repayment of debt, capital equipment and working capital. Alex Brown & Sons Inc, PaineWebber Inc, and Needham & Co Inc were named as the co-managers for the offering.
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