Benchmarq Microelectronics Inc, Dallas developer of mixed-signal – analogue and digital – integrated circuits and electronic modules for portable and power-sensitive electronic systems, got its offer of 1.0m shares away at $8 a share, right at the bottom of its $8 to $11 target range, and plans to use $5m or so of the $7.4m net proceeds to repay dept and for capital expenditure. Needham & Co. Inc, New York was the lead manager of the offering.
Digital Generation Systems Inc, San Francisco operator of multimedia network that provides electronic delivery to the broadcast industry, has filed with the Securities & Exchange Commission to go public with an initial offering of 3.0m shares, but did not give a target price. Net proceeds will be used for network expansion, working capital, and repaying debt. Underwriters for the issue are Hambrecht & Quist, Merrill Lynch & Co and Cowen & Co.
Information Resource Engineering Inc, Baltimore manufacturer of network security systems registered with the US Securities & Exchange Commission to offer 1.15m common shares, 1m of them new. Net proceeds of at least $23m will be used to repay debt, for capital improvements to its Baltimore facility, product development and to buy equipment. Underwriters are Pennsylvania Merchant Group Ltd, Ferris, Baker Watts Inc and Barber & Bronson Inc.
Verity Inc, Mountain View, California says it plans shortly to file with the US Securities & Exchange Commission for a public offering of 2m shares, 500,000 of them new. The developer and marketer of the Topic family of information retrieval tools and applications, say funds are intended to assist potential acquisitions of businesses, products or technologies. No underwriters are signed yet.
