Alantec Corp, San Jose builder of intelligent switching hubs for Ethernet and FDDI local area networks, got its offer of 2.2m shares, 2m of them new, away at $36.25 a share, and plans to use the $70m or so net proceeds for working capital. Hambrecht & Quist Incorporated, Montgomery Securities, Oppenheimer & Co Inc and PaineWebber Inc jointly managed the underwriting group for the offering.
Number Nine Visual Technology Corp, Lexington, Massachusetts developer of video and graphics accelerator chips and subsystems and productivity software, has filed with the US Securities & Exchange Commission to go public with an initial offer of 2.4m shares, 2m of them new, at at target price of $10 to $12 per share. It plans to use the $20m or so net proceeds for repayment of sums outstanding under its revolving credit facility and for working capital and further development of its product lines. The public offering is being made through an underwriting group to be managed by Robertson, Stephens & Co LP, Cowen & Co and Unterberg Harris.
