Palmer Wireless Inc, Fort Myers, Florida producer of products and services for the Cellular One network, has filed to go public with an initial offer of up to 5.0m shares at a target price of between $15 and $17 a share. Palmer Wireless, a newly formed subsidiary of Palmer Communications Inc, says that said that of the net proceeds, about $25m will be used to repay debt to Palmer Broadcasting LP; the balance, estimated at between $49.0m and $60.2m, will be used to reduce debt. Underwriters are Smith Barney Shearson Inc, Raymond James & Associates Inc and Wheat First Butcher & Singer.
