White Pine Software Inc – the company behind the widely used CU-SeeMe desktop videoconferencing software – has filed an initial public offering of 3 million newly issued shares of its Common Stock at a target price of $9 per share. The proceeds will be used for working capital and other general corporate purposes, and to pay off some debts. The underwriters are Cowen & Company, Oppenheimer & Co and Volp, Welty and Company. As well as its CU-SeeMe and Reflector conferencing products, White Pine produces the eXodus line of desktop X Windows software, and terminal emulation software. The company recently announced a joint technology agreement with Microsoft for a combination of CU-SeeMe and Microsoft’s Internet Explorer and NetMeeting software (CI No 2,967).
