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Technology / AI and automation

WORLDGATE TO OFFER SHARES WORTH UP TO $64.4M

Internet-over-cable company WorldGate Communications Inc has filed with the Securities and Exchange Commission for an initial public offering of shares worth up to $64.4m. The shares will eventually trade on Nasdaq under the symbol WGAT, but no information on the total number to be offered, the offering price or pricing date was disclosed. The Bensalem, Pennsylvania-based company was formed in 1995 by former executives of set-top box maker General Instrument Corp and saw a 1998 net loss of $27m on revenue of $1.0m. It currently has 131 employees. á

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CBR Staff Writer

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