Eschelon Telecom, Inc. Files Registration Statement for IPO (Initial Public Offering)
Here's a press release from the company I work for as a software developer (well, my official title is "database developer" but that doesn't mean anything)...
Minneapolis, MN – May 9, 2005 – Eschelon Telecom, Inc. announced that on May 6, 2005 it filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock. Neither the number of shares to be offered nor the price per share has yet been determined. The offering is being managed by Lehman Brothers Inc. and Jefferies & Company, Inc., as joint book-running managers and UBS Securities LLC as a joint lead manager.
Eschelon Telecom, Inc. was founded in 1996 and is a leading facilities-based competitive communications services provider of voice and data services and business telephone systems in 19 markets in the western United States. Headquartered in Minneapolis, Minnesota, the company offers small and medium-sized businesses a comprehensive line of telecommunications and Internet products. Eschelon currently employs approximately 1,130 telecommunications/Internet professionals, serves over 50,000 business customers and has approximately 375,000 access lines in service throughout its markets in Minnesota, Arizona, Utah, Washington, Oregon, Colorado, Nevada and California.
An IPO means that Eschelon stock would be traded on the stock exchange (as ESCH), and as an employee with "stock options" I'd be able to purchase them at a set price.
Minneapolis, MN – May 9, 2005 – Eschelon Telecom, Inc. announced that on May 6, 2005 it filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock. Neither the number of shares to be offered nor the price per share has yet been determined. The offering is being managed by Lehman Brothers Inc. and Jefferies & Company, Inc., as joint book-running managers and UBS Securities LLC as a joint lead manager.
Eschelon Telecom, Inc. was founded in 1996 and is a leading facilities-based competitive communications services provider of voice and data services and business telephone systems in 19 markets in the western United States. Headquartered in Minneapolis, Minnesota, the company offers small and medium-sized businesses a comprehensive line of telecommunications and Internet products. Eschelon currently employs approximately 1,130 telecommunications/Internet professionals, serves over 50,000 business customers and has approximately 375,000 access lines in service throughout its markets in Minnesota, Arizona, Utah, Washington, Oregon, Colorado, Nevada and California.
An IPO means that Eschelon stock would be traded on the stock exchange (as ESCH), and as an employee with "stock options" I'd be able to purchase them at a set price.
posted by Joe R at 8:30 AM
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