C-COR.net Prices Stock Offering2/27/2004 3:27 AM Eastern
C-COR.net Corp. said Friday that its public offering of 4.4 million shares of its common stock will be priced at $14.50 per share.
The company said net proceeds from the offering will be used for general corporate purposes and, if opportunities arise, to acquire businesses that are complementary to its business.
C-COR.net also granted the underwriters -- CIBC World Markets; Friedman, Billings, Ramsey Group Inc.; and Credit Lyonnais Securities (USA) Inc. -- an option to purchase up to an additional 660,000 shares solely to cover overallotments. There is no assurance that the overallotment option will be exercised.