OneWave Inc is the new name of Cambridge, Massachusetts-based Business@Web, which announced plans to float under its old name last month (CI No 2,920). It has filed to offer 3.75m shares, 3m of them new, at a target price of $13.00 to $15.00 per share. The company’s OpenScape products are designed to enable organizations to extend their current computing capabilities to conduct new, dynamic and interactive communication and transactions with key audiences of their extended enterprise, including customers, suppliers, distributors and business partners. Goldman, Sachs & Co and Hambrecht & Quist LLC are the managing underwriters.
SyQuest Technology Inc, Fremont, California has completed a $20m placing of preferred stock with institutional investors, and says the cash gives it the ability to begin rebuilding its equity base. Under the stock deal, a maximum of 2,291,891 common shares can be issued if the preferred shares are converted. That figure constitutes 16.6% of the common shares currently outstanding, Syquest said.
Asia Satellite Telecommunications Ltd of Hong Kong got its offer of 105.3m shares away at $2.56. Hutchison Whampoa Ltd, Cable & Wireless Plc and China International Trust & Investment Corp now have 23% each of AsiaSat. The underwriters were not named.
