Number Nine Visual Technology Corp, Lexington, Massachusetts graphics software specialist, has filed with the US Securities & Exchange Commission to go public with an initial offer of up to 2.4m shares, 2m of them new, at $10 to $12 a share. The $20m or so net proceeds will be used to repay debt and for working capital. The underwriters will be Robertson Stephens & Co, Cowen & Co and Unterberg Harris.
UUNet Technologies Inc, Fairfax, Virginia-based provider of Internet access options, is taking advantage of the excitement caused by its alliance with and investment from Microsoft Corp to go public. It plans to offer up to 4.125m shares, 4m of them new, at a target price of $10 to $11 a share; it says the estimated net proceeds of $38m or so will be used for capital expenditures, including expansion and upgrading of its network facilities and establishment of one or more additional network operations centres; up to $3.5m will go to reduce its debt. Underwriters are Goldman, Sachs & Co, Hambrecht & Quist Inc and Bear, Stearns & Co Inc.
