Sybari sets terms of IPO
3.35 million common shares for sale
Anti-virus firm Sybari Software Inc. has set the terms of its planned initial public offering (IPO) in a filing with the Securities and Exchange Commission.
The company, which filed a registration statement with the Securities and Exchange Commission
in May 2004, plans to sell 3.35 million common shares at $14-$16 each, in order to raise proceeds of between $46.9 million and $53.6 million.
It is reported that the company intends to use $25 million of the proceeds from the sale to repay subordinated debt, redeem series A preferred stock and pay accrued dividends on preferred stock. The rest of the funds will be used for 'general purposes'.
The company shares are expected to trade on the Nasdaq under the symbol 'SYBS'.
14 January 2005
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