Offering 9 million common shares that could sell for between $10 and $12 apiece

October 25, 2000

1 Min Read

WASHINGTON, D.C. -- OMM Inc., which makes all-optical switching subsystems for communications networks, set on Wednesday an initial public offering at 9 million common shares that could sell for between $10 and $12 apiece. OMM, based in San Diego, disclosed the terms for the first time in a filing with the Securities and Exchange Commission. The company originally filed to go public in mid-September without revealing the number of shares or their price range. It predicted it would net about $90.5 million in proceeds if the stock sold for $11 a share, or the middle of the range.

That figure could rise to $104.3 million if the underwriters -- Credit Suisse First Boston, Chase H&Q, CIBC World Markets and Dain Rauscher Wessels -- exercised an overallotment option on 1.35 million extra shares. OMM plans to use the money to expand manufacturing calabilities and research and development efforts, as well as for working capital and general corporate purposes. OMM, which has applied for a Nasdaq listing under the symbol "OMMI" (OMMI.O), would have 103.5 million common shares outstanding when the IPO was completed.

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