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Great Plains, Iss & Netgravity Raise More Cash
Computergram International - March 3, 1999
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Several technology companies moved to raise more capital Tuesday, with financial software house Great Plains Software Inc and network security firm Internet Security Systems Inc both completing public offerings of common stock, as internet advertising software provider NetGravity Inc filed with the SEC for an offering of its own. Great Plains sold 2.0 million shares at $38 per share. Of the total, 1.235 million were sold by the company, netting it roughly $44m. The proceeds are expected to be used for general corporate purposes, product development, capital expenditures and possible acquisitions. Meanwhile, ISS Group Inc - the parent company of ISS Inc - sold 1.2 million shares on Tuesday at $59 a piece, raising $70.8m before expenses. Certain shareholders also sold 1.2 million shares at the same price. NetGravity also said that it has filed a registration statement with the SEC for a secondary public offering of 3.6 million shares, of which 2,738,000 shares will be offered by the Company and 862,000 shares will be offered by certain stockholders. The offering price has not been set but, based on Monday's closing price, the offering would bring in $75.8m before expenses.
COPYRIGHT 1999 ComputerWire, Inc.
COPYRIGHT 2000 Gale Group
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