Cabletron Systems Inc. is hoping to raise $ 146.5 million. The small Rochester, N.Y.-based cablecaster filed a secondary offering of 2 million common shares at $ 73.25.

The offering will be underwritten by Merrill Lynch & Co.

At the time of its filing earlier this month, the company said all of the shares would be sold by three of its stockholders: S. Robert Levine, president and chief executive; Craig R. Benson, chairman and chief operating officer; and Kenneth Levine, director of national accounts.

The filing also said the underwriters would be granted an option to purchase up to an additional 300,000 shares to cover over-allotments.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0