Comshare Inc, Ann Arbor, Michigan executive information systems specialist, has filed with the US Securities & Exchange Commission to offer 2.16m shares, 1.125m of them new, and wants net proceeds of at least $19.2m to repay bank debt and for working capital. Lead underwriters are Robertson Stephens & Co, Volpe, Welty & Co and The Chicago Corp.
Elantec Semiconductor Inc, Milpitas, California maker of analogue chips for video, data processing, instrumentation and communications markets, got its initial public offering of 2.1m shares, 1.4m of them new, away at $7 a share. Proceeds are for capital expenditure and working capital. The underwriters were Cowen & Co and Hambrecht & Quist LLC.
Kopin Corp, Taunton, Massachusetts developer and manufacturer of high-resolution flat panel displays, has won a $27.1m equity investment from the Telecom Holding Co Ltd affiliate of the CP Group Ltd major global conglomerate based in Thailand. Telecom Holding paid $16.50 a share for 1.6m shares to give it a stake of 15% in the company. The two intend to work closely on future business activities, including joint investments in manufacturing display products based on Kopin’s active matrix liquid crystal display Smart Slide imaging device.
Network Appliance Inc, Mountain View, California maker of networked storage subsystems, has filed with the US Securities & Exchange Commission to go public with an initial offer of 2.55m shares, 1.8m of them new, and says that the net proceeds of at least $16m will be used to repay a term loan and for working capital. Underwriters for the issue will be Lehman Brothers and Alex Brown & Sons Inc.
Objective Systems Integrators Inc, pioneering integration of object-oriented systems in Folsom, California has filed with the US Securities & Exchange Commission to go public with an initial offer of 4m common shares, 2m of them new, and 800,000 will be offered outside the US, at a target price of $12 to $14 a share. Objective wants the cash for working capital, and the underwriters for the issue are to be Morgan Stanley & Co International, Bear, Stearns International Ltd and Punk, Ziegel & Knoell Inc.
SoftKey International Inc is raising $300m in a private offering of senior notes due 2000 and convertible into SoftKey common at a fixed conversion rate yet to be determined. They will be repaid after November 1 1998 at declining redemption prices. The hungry Cambridge, Massachusetts desktop and consumer software company intends to use a substantial portion of the net proceeds for yet to be determined acquisitions and strategic alliances.
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