Technology Prices Stock Offering

2/27/2004 3:27 AM Eastern 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. 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.


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