Ansys Inc of Houston, Pennsylvania got its initial public offering of 3.55m shares, all but 50,000 of them new, away at $13.00 a share. The international supplier of analysis and engineering software for optimizing the design of new products did not reveal its intentions for the $42m or so net proceeds. The underwriters for the offering were Alex. Brown & Sons Inc, Cowen & Co, Wessels, Arnold & Henderson, and Parker/Hunter Inc.
Base Ten Systems Inc, Trenton, New Jersey filed to offer up to 2m new shares to raise cash for product development, upgrade of its manufacturing system, to develop as new image archiving system, and additional marketing support activities. It also plans to use $1.5m of the proceeds to buy its headquarters and manufacturing facilities and the remainder for working capital and potential acquisitions. The offer will be via Pacific Growth Equities Inc.
Hambrecht & Quist LLC, San Francisco has become Hambrecht & Quist Group Inc, and has confirmed plans to go public. The investment banker and broker specialized in high technology companies, typically in Silicon Valley, has filed with the US Securities & Exchange Commission for its initial public offering estimated to raise up to $80m, but did not provide information regarding the number of shares to be offered or the target price. Net proceeds will be used for working capital. Underwriters for the issue have also not been named.
MCI Communications Corp, Washington sold $500m of 7.125% debentures due June 15 2027 with a seven-year put option, at $99.895% to yield 7.145%, via J P Morgan Securities and Citicorp Securities.
