MetaTools Inc, Carpinteria, California developer of tools for creating graphic images, digital art and Internet content for Windows, Mac OS and other operating systems, has filed with the US Securities & Exchange Commission to go public with an initial offering of 2.5m shares, 2m of them new. It looks for net proceeds of at least $15.8m to be used for working capital. The underwriters are Alex Brown & Sons Inc, Cowen & Co and Hambrecht & Quist Inc.
Sierra Semiconductor Corp, San Jose developer of chips for broadband communications infrastructures, high bandwidth networks and multimedia personal computers, got its offer of 1m shares, all new, away at $18.00 per share, and wants the $16.5m or so net proceeds to secure additional wafer fabrication capacity. Hambrecht & Quist LLC lead-managed the underwriting group with Montgomery Securities.