AT&T Corp’s Lucent Technologies Inc filed a shelf registration with the US Securities & Exchange Commission to offer up to $100m in debt securities and warrants. Proceeds will be used to refund debt, and for capital expenditures and working capital.
Iomega Corp, Roy, Utah-based maker of high-capacity hard shell floppy disk drives, filed with the US Securities & Exchange Commission for a public offer of $40m of convertible subordinated notes due 2001 to raise cash to repay bank loans, and for working capital. The underwriter is Hambrecht & Quist LLC.
Natick, Massachusetts-based computer-telephony integration systems builder, Natural Microsystems Corp sold 1.6m shares, 1m of them new, at $26.25 a share, and says the $24m or so net proceeds will be used for capital expenditures and working capital. The managing underwriters were Alex Brown & Sons Inc, First Albany Corp and Adams, Harkness & Hill Inc.
Orange Plc yesterday filed with the US Securities & Exchange Commission to offer ordinary shares and American depositary shares in the US as part of the global offer by the UK operator of a Personal Communications Network. The North American offer is of 130m shares, bundled up five at a time as depositary shares; there are 195m shares for Europe and the rest of the world. The offer price is expected to be set between 175p and 205p per share, equivalent to $13.48 and $15.80 per Depositary share. On completion Hutchison Whampoa Ltd and British Aerospace Plc will have about 50.49% and 22.92% respectively of the enlarged share capital. Goldman Sachs International and Dresdner Bank-Kleinwort Benson are joint global co-ordinators; their US arms plus Donaldson, Lufkin & Jenrette Securities Corp, Merrill Lynch & Co, Lehman Brothers Inc, CIBC Wood Gundy Securities Corp and Gordon Capital Inc will be handling the US offer.
VideoLogic Group Plc, Kings Langley, UK designer of super-high- performance graphics chips for personal computers, has decided that this is an opportune moment to cash in on the excitement generated by NEC Corp’s announcement that samples are imminent (CI No 2,860), and it has announced plans to raise #4.8m with a placing of 6.9m new shares at 70 pence per share, to fund further development. The placing is being handled by SBC Warburg Ltd.
