Network Access Solutions Announces Initial PublicOffering of 7,500,000 Common Shares At $12.00.
STERLING, Va.--(BUSINESS WIRE)--June 4, 1999--
Network Access Solutions ("NAS") today announced its initial public offering of 7,500,000 shares of Common Stock at an initial public offering price of $12.00. Network Access Solutions shares will trade on the Nasdaq National Market under
Donaldson, Lufkin & Jenrette is leading the offering. Bear, Stearns & Co. Inc., J.P. Morgan & Co. and DLJdirect Inc. are co-managing the offering.
The Company and certain stockholders have granted the underwriters a 30-day option to purchase up to 1,125,000 additional shares at the initial public offering price to cover over-allotments.
Founded in 1994, Sterling, Virginia-based Network Access Solutions is a data communications and enterprise networking solutions company. Through its branded CuNet (pronounced "copper net") service, NAS offers customers high-speed connectivity using digital subscriber line (DSL) technology. As a complement to CuNet, NAS offers customers a complete suite of value-added enterprise networking solutions, including network integration, network management, network security and professional services. The CuNet network supports both legacy telecommunications infrastructures, including traditional voice, and newer, packet-based communications, including ATM, Frame Relay and IP. For more information visit the company's website: http://www.nas-corp.com.
A copy of the Prospectus relating to the offering may be obtained from:
Donaldson, Lufkin & Jenrette 277 Park Avenue New York, NY 10172 Tel: 212/892-3000
Bear, Stearns & Co. Inc. 245 Park Avenue New York, NY 10167 Tel: 212/272-2000
J.P. Morgan & Co. 60 Wall Street New York, NY 10260 Tel: 212/483-2323
DLJdirect Inc. One Pershing Plaza Jersey City, NJ 07399 Tel: 201/413-2525
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction or state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or state.
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